DG – Davenport, FL
Fortis Net Lease is pleased to present this 9,002 SF Dollar General store located in Davenport, FL. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (5) Yr. Options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The rent is scheduled to commence on 4/6/2018.
This Dollar General will highly visible and is strategically positioned in Davenport, FL. The five mile population from the site exceeds 41,000 while the one mile median household income exceeds $46,500 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store.
• Brand New Absolute NNN Lease
• Zero Landlord Responsibilities
• 55,599 Cars Per Day
• 15 Year Term | Four (5 Year) Options
• One Mile Household Income $46,837
• Five Mile Population Exceeds 41,000
• Corner Location
• 12.80% Growth Expected in Five Miles