Callahan FL Tractor 124 DST
Net lease retail in Callahan, FL — sponsored by Cove Capital Investments
Minimum investment
$1k
Offering size
$8.6M
How much has sold
31.0%
Asset type
Net lease retail
Location
Callahan, FL
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Callahan FL Tractor 124 DST is a Delaware statutory trust — the vehicle 1031 exchange investors use to hold fractional interests in real estate — sponsored by Cove Capital Investments.1 It is raising from accredited investors, those meeting SEC income or net-worth tests, to own a single Tractor Supply store in Callahan, Florida, which the Jacksonville Daily Record reported the Trust bought for $7,306,000 in June 2026.2
The Jacksonville Daily Record identifies Callahan FL Tractor 124 DST as the buyer of the Tractor Supply Co. property for $7,306,000; the Matthews memorandum describes a ±14,351-square-foot, ±3.61-acre 2024 built-to-suit site with a 15-year NN+ lease and a corporate Tractor Supply guaranty. The official store page lists 542507 US Hwy 1, Callahan, FL 32011; the memorandum prints a conflicting ZIP and the sales article shows a 542567 variant, so those variants were not used to change the official store address.
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These links support the public record as a whole; individual details may come from different sources.
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What exactly is the property?
The Trust's asset is a Tractor Supply store on U.S. 1 in Callahan, Florida, northwest of Jacksonville. The Jacksonville Daily Record reported the Trust bought it from HSC Callahan LLC for $7,306,000 in Nassau County sales recorded June 15-21, 2026.2 A Matthews Real Estate Investment Services memorandum for the store describes a 2024 built-to-suit building.3 Published records disagree on both the street-number digits and the building's square footage.
- Reported location
- Callahan, FL
- Property size
- ±14,351 square feet; ±3.61 acres
Who is the tenant, and what's the lease?
Tractor Supply Co. operates the store at the matched address. No filing on record discloses this Trust's lease; the Matthews memorandum for the store describes an approximately 15-year NN+ lease — the tenant carries most operating costs while ownership keeps structural obligations — with a corporate Tractor Supply guaranty, and that memorandum does not name the Trust.3
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
31.0% reported sold
- Amount sold
- $2,707,275
- Still available
- $5,930,661
- Investors reported
- 9
- Total offering
- $8,637,936
Not enough filings yet to show a trend.
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How is it financed, and what does it pay?
Neither the Form D nor any primary public record reviewed states whether the Trust placed a mortgage or bought the store all-cash. Because replacement debt matters to an exchanger matching a relinquished loan, the offering documents and the closing statement are what settle it.
Who's behind it?
Cove Capital Investments sponsors Delaware statutory trust offerings for 1031 exchange investors, and the Form D names the firm as this Offering's sponsor and promoter; Dwight Kay signed the notice as manager of the signatory trustee.1 In a sponsored release dated July 16, 2026, Cove Capital reported more than $1.13 billion in sponsored DST 1031-exchange offerings and an 11.01% average annualized return across its completed transactions; those are firm-wide figures, and the release does not name this Trust.4
- Sponsor
- Cove Capital Investments
- Legal Trust name
- Callahan FL Tractor 124 DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 24 active / 57 total offerings from Cove Capital Investments
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Form D on record is an initial notice rather than an amendment, submitted by a Delaware-organized trust that reported its first sale on June 25, 2026.1 The exemption claimed permits general solicitation — public advertising of the Offering — but requires the sponsor to take reasonable steps to verify each buyer's accredited status.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is Callahan FL Tractor 124 DST still raising money?
Top1031 lists Callahan FL Tractor 124 DST as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Callahan FL Tractor 124 DST?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What does this Trust own?
A single-tenant Tractor Supply store on U.S. 1 in Callahan, Florida, northwest of Jacksonville. The Jacksonville Daily Record named Callahan FL Tractor 124 DST as the buyer of the property from HSC Callahan LLC for $7,306,000, in Nassau County sales recorded June 15-21, 2026. Tractor Supply's own store page shows a store operating at that address. The Form D itself discloses no address, tenant or price.
Is the Offering still open?
The Trust filed its initial Form D on July 15, 2026 and is raising; no amendment or closing notice has been filed since. The dollar amount sold, the amount still available and the reported investor count appear in the sales section of this page. An active filing record does not by itself confirm that interests remain available today.
Does the Trust use debt?
Not established by primary records. The Form D does not disclose financing, and no deed or lender filing reviewed shows whether the Trust placed a mortgage or paid all cash. The absence of a reported loan is not evidence of debt-free ownership. The Private Placement Memorandum — the offering document disclosing debt, fees and risks — controls, and an exchanger matching replacement debt would need to read it rather than rely on a third-party summary.
What are the lease terms?
Public records do not settle them for this Trust. A Matthews Real Estate Investment Services offering memorandum for the Callahan Tractor Supply describes an approximately 15-year NN+ lease with a corporate Tractor Supply guaranty and rent commencing November 16, 2024, but that memorandum does not name Callahan FL Tractor 124 DST, so the lease cannot be attributed to the Trust from it alone. The PPM and the lease itself govern.
Can I invest if I'm not accredited?
No. The Offering is made under Rule 506(c), which limits purchasers to accredited investors and requires the sponsor to take reasonable steps to verify accredited status, typically through tax documents, brokerage statements or a letter from your CPA or attorney.
Could this convert into a REIT interest later?
The record shows no 721/UPREIT feature — the option some sponsors include to swap trust interests for operating-partnership units in a REIT. Any exit mechanics for this Trust would be described in the PPM and the trust agreement.
Chapter 9Top commercial sales of the weekThe Northeast Florida sales roundup reports that Callahan FL Tractor 124 DST bought the Tractor Supply Co. property in Callahan for $7,306,000.