Trophy Dollar General Portfolio – FL
Fortis Net Lease is pleased to present this Four (4) store Dollar General portfolio, with sites being located in Davenport, Winter Haven, Cape Coral, and Punta Gorda, Florida. The properties all saw rent commence in 2013 and 2014 and are each encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The leases contains four (5) Yr. options to renew, each with a 10% rental rate increase. The leases are corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, and is classified Investment Grade.
All stores benefit for having better than average Dollar Store demographics, where the average 5 mile population is greater than 83,000 and is expected to grow by 13.36 % by 2023, with the 1 mile household income average is above $58,000. The new owner will take pride in the upgraded architecture and construction on each store, being built with EIFS Stucco and Split Block Brick. The portfolio must be purchased as a whole, at a list price of $8,486,031. Properties must be purchased via a portfolio sale.
• Four Absolute NNN Dollar Generals (Zero Responsibilities)
• Rare Florida Locations: Punta Gorda, Cape Coral, Davenport, & Winter Haven
• 15 Year Term | Four (5 Yr.) Options, 10% Bumps at Each
• Corporate Guarantee by DG which carries “BBB” Rating | Investment Grade
• Average 5 Mile Population of all Properties is 83,318
• Average 1 Mile Household Income of all Properties is $58,339
• Average 1 Mile Population Growth Rate of 13.32 by 2023