198 US Highway 98
Eastpoint, FL 32328

This new construction Family Dollar, located in Eastpoint, FL on the Florida Panhandle, opened in August. Due to anticipated high sales volume, Family Dollar built a larger format 9,180 SF store on a ± 1.4-acre parcel at a corner on U.S. Highway 98. The store is also located in the heart of the 2nd largest domestic oyster farming region of the US and in a designated Opportunity Zone. Family Dollar is a strong corporate guaranteed tenant with a 10-year lease and six 5-year renewal options with 5% increases in each option period. Current annual rent of $129,319.08 provides an attractive 7.2% cap rate based upon a recent price adjustment. Also, as a Florida investment, there is no state income tax. Landlord responsibilities are minimal and include roof, structure and parking lot. The roof includes a transferable warranty. The tenant is responsible for HVAC, grounds care, parking lot re-stiping and all other repairs and maintenance and fully reimburses the Landlord for taxes and insurance. This net lease investment opportunity is ideal for both non-1031 and 1031 buyers looking for a solid long-term investment in an area of underserved retail demand. The property is offered at $1,796,100.