Dollar General – Dover, FL

$2,234,871
Price
Noi
Market
Cap Rate
9,002
Leasable Area
2019
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

DOWNLOAD LINKS

OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 9,002 SF. Dollar General store located in Dover, Florida. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 store is currently under construction, with rent commencing in September 2019.

This Dollar General is highly visible as it is strategically positioned on McIntosh Road which sees 4,619 cars per day. The five mile population from the site is 56,787 while the one mile average household income is $101,729 per year, making this location ideal for a Dollar General. The area is experiencing great growth with the one mile population growth rate at 7.89%. 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.

INVESTMENT HIGHLIGHTS
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Brand New Construction
• 4 (5 Year) Options | 10% Rental Increase At Each Option
• One Mile Household Income $101,729
• Five Mile Population 56,787
• One Mile Population Growth Rate 7.89%
• 4,619 Cars Per Day on McIntosh Road
• Investment Grade Dollar Store with “BBB” Credit Rating
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth
• Close and Quick Access to Interstate 4
• Centrally Located in Florida Around Major FL Cities

 

Instate Broker of Record: Michael Houghton | Oak Realty Advisors