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881 N State Road 21, Melrose, FL, 32666

Family Dollar
$1,250,000

Key Information

Cap Rate
7.6%
$ per SF
$132
Tot. SF
9,440
Units
1
Year Built
2014
Term Remaining
±4 YRS
Type
Retail
NOI
$95,067

Highlights

  • Attractive rent and price basis: Leased at a below-market rental rate of $95,067 annually ($10.07/SF), offering an appealing price point and low occupancy cost relative to market comparable

  • Investment grade corporate guarantee: Lease backed by Dollar Tree, Inc., an S&P-rated BBB and Moody’s Baa2 investment-grade entity. Dollar Tree, which acquired Family Dollar in 2015, operates over 15,500 locations nationwide, ranking as the second-largest discount retailer in the U.S.

  • Absolute NNN lease with CPI-linked increases (rare): Corporate-guaranteed, absolute triple-net lease structure with over four years remaining and six (6) five-year extension options. Tenant is fully responsible for all expenses, including taxes, insurance, roof, structure, and parking lot maintenance. Lease includes rent escalations tied to the Consumer Price Index (CPI), offering inflation protection

  • Stable in-place cash flow: The property delivers a strong and consistent net operating income of $95,067 annually, underpinned by a nationally recognized, creditworthy tenant

  • Recession-resistant retailer: Family Dollar’s value-focused model provides essential goods at accessible price points, positioning it to perform well during economic downturns and periods of inflationary pressure

  • Florida income tax advantage: Situated in income tax-free Florida, providing investors with a favorable tax environment and increased after-tax yield potential

  • Future value enhancement potential: Upside opportunities include negotiating a lease extension, implementing rental increases, or repositioning the property at market rents upon lease expiration

  • Expanding residential and retail demand: Located near Keystone Heights and Gainesville, Melrose is experiencing residential expansion and growing demand for essential retail services, supported by proximity to recreational lake communities

  • High-visibility location along primary corridor: Positioned on State Road 21, the area’s dominant commercial thoroughfare, offering sustained visibility, strong traffic volumes, and ease of access for local and regional consumers

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203