Dollar General Market – Pensacola, FL

$2,691,262
Price
$138,600
Noi
5.15%
Cap Rate
12,480
Leasable Area
2023
Year Built

Fortis Net Lease is pleased to present this new 12,480 SF. Dollar General Market store with an upgraded façade located in Pensacola, Florida. Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5 (5 year) 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 start and opening on track for May 2023.

This Dollar General is highly visible as it is strategically positioned on the signalized corner of Cody Lane and E Olive Drive which sees 30,600 cars per day, and surrounded by residential homes. The five mile population from the site is 131,336 while the one mile average household income $56,149 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the one mile population growth rate at 6.45%. 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 5.15% cap rate based on NOI of $138,600.

INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Two Points of Ingress/Egress | Accessible from Both Streets
• Dollar General Market | Produce and Fresh Meats
• 2023 BTS Plus Size | Façade Upgrades
• 5 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $56,149
• Five Mile Population 131,336 | Expected 4.86% Growth
• One Mile Population Growth Rate 6.45%
• 30,600 VPD at Cody Lane and E Olive Drive
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
• Surrounded by Residential Homes
• 5 Mile Consumer Spending $1.4 Billion

Instate Broker of Record: Brian Brockman | Bang Realty

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM