Dollar General – Cottondale, FL
Fortis Net Lease is pleased to present this brand new, upgraded, 12,480 SF. Dollar General Market store located in Cottondale, Florida. The property offers a Fifteen (15)Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (5year) 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 store is on track for a rent commencement in January of 2022.
This Dollar General is highly visible as it is strategically positioned on the corner of Thomas Street and US-231 which sees 12,545 cars per day at the signalized intersection. The ten mile population from the site is 21,044 while the three mile average household income is $56,621 per year, making this location ideal for a Dollar General. The site sits across the street from Cottondale High School and Elementary School. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of 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. List price reflects a 4.50% caprate based on NOI of $109,260.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• DG Market Store | Upgraded Construction
• Corner Location | Near Signalized Intersection
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $56,621
• Ten Mile Population 21,044 and Growing
• 12,545 Cars Per Day on US-213
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Across the Street from Cottondale High School & Elementary School
Instate Broker of Record: Michael Orden | Naples RE Consultants | License #BK3224663