Dollar General Net Lease Investment | DeFuniak Springs, FL

Absolute NNN Retail Property in a No-Income-Tax State

Address: 2115 US-90 East, DeFuniak Springs, FL 32433

Price: $1,750,000 | Cap Rate: 6.05% | NOI: $105,876

Investment Summary

Lee & Associates, in partnership with Bang Realty, is proud to offer for sale a high-performing, single-tenant net lease (STNL) investment located at 2115 US Highway 90 E, DeFuniak Springs, Florida. This fee simple interest features a corporate-guaranteed Dollar General (NYSE: DG), an investment-grade tenant with a BBB rating from S&P.

Built in 2020 as a build-to-suit project, this 9,100-square-foot retail asset sits on an expansive 3.83-acre lot. The property is under an Absolute Triple-Net (NNN) lease, ensuring the landlord has zero management responsibilities, making it an ideal "hands-off" acquisition for 1031 exchange buyers or passive investors seeking stable cash flow.

Asset Highlights

• Passive Income Security: Absolute NNN lease structure with no landlord obligations for roof, structure, or parking lot.

• Investment Grade Tenant: Guaranteed by Dollar General Corp, a recession-proof retailer with over 20,000 locations and $40B+ in annual revenue.

• Strong Remaining Term: Approximately 9.4 years left on the primary 15-year lease term.

• Embedded Rent Growth: Includes five (5), 5-year renewal options featuring 10% rental increases in each period to hedge against inflation.

• Florida’s Tax Advantages: Located in a state with no provincial income tax, significantly enhancing the after-tax yield for investors.

• High Performance: This specific site is ranked as a top-performing regional location based on foot traffic data.

Strategic Location & Market Overview

Situated prominently on US Highway 90 (13,000 VPD) and in close proximity to Interstate 10, the property serves as a primary retail hub for DeFuniak Springs. As the county seat of Walton County, the area is witnessing a surge in residential development and infrastructure investment.

The surrounding trade area is bolstered by high-traffic national anchors, including Walmart Supercenter, Lowe’s Home Improvement, and AutoZone, creating a synergistic retail environment. The combination of Florida’s rapid population growth, a favorable cost of living, and the property's strategic position makes this a premier long-term retail investment.

Property Specifications

Investment Disclaimer: This offering is subject to prior sale, change, or withdrawal without notice. Investors are encouraged to conduct their own due diligence regarding the financial and physical condition of the property.