Dollar General – Fort Meade, FL
Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General plus store with upgraded architecture located in Fort Meade, Florida – part of the Tampa/St Petersburg Market area. The property offers a 15 Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 Year) options to renew. 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 to finish construction & open for business in February 2025.
This Dollar General is highly visible as it is strategically positioned off of Highway 98 seeing 6,000 cars per day. It sists across from a gas station & adjacent to a church on the main thoroughfare into downtown Fort Meade. The 10 mile population from the site is 21,870 and the 3 mile average household income is $64,364 per year, making this location ideal for a Dollar General. This area is seeing explosive growth with the 3 mile population growth rate at 21.68%! 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 6.35% cap rate based on the NOI of $179,160.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Tampa/St Petersburg Market Area
• Zero Landlord Responsibilities
• 5% RENT INCREASES EVERY 5 YEARS!
• Upgraded Architecture | Plus Size Footprint
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $64,364
• Ten Mile Population 21,870 | Expected 18.65% Growth
• 6,000 Cars Per Day | On Main Thoroughfare
• Explosive Growth Area | Three Mile Population Growth Rate 21.68%
• Investment Grade Dollar Store With “BBB” Credit Rating
• Dollar General Guaranty
Instate Broker of Record: Michael Houghton | Oak Realty Advisors