5045 Us-1St. Augustine, FL 32086

This exceptional investment opportunity presents a fee-simple, Class A, single-tenant retail property located at 5045 US-1, St. Augustine, FL 32086. The property is a 9,100 square foot Dollar General (NYSE: DG) store built in 2016, operating under an absolute NNN lease with 6.8 years remaining, plus four 5-year renewal options extending to 2051. The lease commenced August 1, 2016, and expires August 31, 2031. The property boasts a strong net operating income (NOI) of $133,857, resulting in a 4.87% cap rate and a price per square foot of $302.20. The asking price is $2,750,000. The property sits on a 1.5-acre lot with 28 parking spaces and is zoned CI. The tenant, Dollar General, is credit rated and maintains a 100% occupancy rate. This location benefits from high traffic counts of 39,500 vehicles per day and is situated within a thriving community with a population of 59,125 and a high household income of $92,631. The property's proximity to other national retailers like Publix, Winn-Dixie, CVS, and Walgreens, further enhances its desirability. Significant residential development is underway within a one-mile radius, with nearly 1,000 units planned for completion by summer 2024, promising continued growth and increased demand in the area. This is a rare opportunity to acquire a well-performing, low-maintenance investment property in a prime location.