Dollar General – Monticello, FL

$2,252,727
Price
$99,120
Noi
4.40%
Cap Rate
10,640
Leasable Area
2022
Year Built

Fortis Net Lease is pleased to present this 2022 BTS, 10,640 SF. Upgraded Dollar General PLUS SIZE store located in Monticello, Florida – part of the Tallahassee Market. The property offers a Fifteen (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 opening on track for May 2022.

This Dollar General is highly visible as it is strategically positioned on the hard corner of Lake Road and N Jefferson Street seeing 6,963 cars per day. The ten mile population from the site is 11,855 while the three mile average household income is $62,368 per year, making this location ideal for a Dollar General. This area is experiencing steady growth in population. The Subject offering represents an ideal opportunity for a 1031exchange 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 4.40% cap rate based on NOI of $99,120.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2022 BTS PLUS SIZE UPGRADED Construction
• Tallahassee Market Area
• Corner Location | On Main Thoroughfare into Downtown Monticello
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $62,368
• Ten Mile Population 11,855
• 6,963 Cars Per Day at Lake Road and N Jefferson Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth

Instate Broker of Record: Brian Brockman | Bang Realty, Inc.

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM