Dollar General – Live Oak, FL
Fortis Net Lease is pleased to present this 9,100 SF Dollar General Relocation store located in Live Oak, 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 store is classified as a relocation store, meaning Dollar General has enjoyed success in the market and needed a larger facility to meet market demand. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. Rent commenced in July of 2011, and expires in July of 2026.
This Dollar General is highly visible and strategically positioned on Ohio Ave, also known as route 129 which sees 18,800 cars per day. The five mile population from the site exceeds 13,600 while the one mile average household income exceeds $54,000 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. List price reflects a 7.10% cap rate based on NOI of $121,254.
• Absolute NNN Lease | Zero Responsibilities
• Relocation Store | Proven Success in Market
• 15 Year Term | Four (5 Yr.) Options | 10% bumps
• Five Mile Population exceeds 13,600
• One Mile Average Household Income Exceeds $54,000
• One Mile Population Growth 4.35%
• Ohio Avenue South sees 18,800 Cars Per Day
• Investment Grade Dollar Store | “BBB” | Corporate Guarantee
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth
• 10 Schools Within a 1 Mile Radius from Site
Instate Broker of Record: Michael Orden | Naples Real Estate Consultants | License # BK3224663