Dollar General – North Port, FL
Fortis Net Lease is pleased to present this brand new, upgraded, 10,640 SF. Dollar General PLUS store located in North Port, Florida. The property offers a brand new Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains four (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 under construction with store opening & rent start on track for June 2023.
This Dollar General is highly visible as it is strategically positioned on the corner of Executive Avenue & Toledo Blade Blvd which sees 20,000 cars per day, adjacent to a Dollar Tree and just off the I-75 exit, which sees 62,500 cars per day. The five mile population from the site is 54,225 and growing (estimated 12.26% growth), while the one mile average household income is $85,205 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the one mile population growth rate at 13%! 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.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• BTS 2023 Upgraded Construction Style
• Corner Location | Just off I-75 Exit Seeing 62,500
• 4 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $85,205
• Five Mile Population 54,225 | Expected 12.26% Growth
• 20,000 Cars Per Day on Toledo Blade Blvd
• Adjacent to Dollar Tree
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Years of Same Store Sales Growth
• Surrounded by Residential Homes
Instate Broker of Record: Michael Houghton | Oak Realty Advisors