Listing 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.
Full Description
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
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Passive Income Security: Absolute NNN lease structure with no landlord obligations for roof, structure, or parking lot.
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Investment Grade Tenant: Guaranteed by Dollar General Corp, a recession-proof retailer with over 20,000 locations and $40B+ in annual revenue.
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Strong Remaining Term: Approximately 9.4 years left on the primary 15-year lease term.
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Embedded Rent Growth: Includes five (5), 5-year renewal options featuring 10% rental increases in each period to hedge against inflation.
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Florida’s Tax Advantages: Located in a state with no provincial income tax, significantly enhancing the after-tax yield for investors.
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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
| Feature |
Details |
| Gross Leasable Area (GLA) |
9,100 SF |
| Lot Size |
± 3.83 Acres |
| Year Built |
2020 |
| Price Per Square Foot |
$192 |
| Lease Guarantor |
Dolgencorp, LLC (Dollar General Corp) |
| Lease Type |
Absolute Triple-Net (NNN) |
| Traffic Counts |
13,000+ VPD on US-90 |
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.
Quick Glance
- Listing ID:
CL-Florida-27660
- Status:
Active
- Year Build:
2020
- Building Size:
9,100 SqFt
- Lot Size:
3.83 Acre