Dollar General – New Port Richey, FL

$2,473,175
Price
N/A
Noi
Market
Cap Rate
9,002
Leasable Area
2021
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this brand new 9,002 SF. Dollar General store located in New Port Richey, Florida. The property offers 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 preparing to start construction with rent scheduled to commence in April 2021.

This Dollar General is highly visible as it is strategically positioned on the hard corner of Osteen Road and Massachusetts Avenue, which sees 14,500 cars per day. The five mile population from the site is 158,682 while the three mile average household income is $57,469 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the one mile population growth rate at 11.17%. 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.

INVESTMENT HIGHLIGHTS
• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Hard Corner Location | Upgraded Construction
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $57,469
• One Mile Population Growth Rate 11.17%
• Five Mile Population 158,682
• 14,500 Cars Per Day on Massachusetts Avenue
• $1.4 Billion in Consumer Spending Within a 5 Mile Radius
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Tampa Market Area

 

Instate Broker of Record: Michael Houghton | Oak Realty Advisors