Dollar General – Orange Springs, FL
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Fort Mccoy (Orange Springs), Florida. The property offers a 15 Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5% rent increases in each of the 4 (5 Year) options to renew. 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 open and has been successfully operating since 2018.
This Dollar General is highly visible as it is strategically positioned on US Hwy 21, seeing 3,500+ cars per day. It sits nestled between US hwy 21 and 315 making it a convenient location for the surrounding neighbors. The 5 mile population from the site is 3,584 and the 1 mile average household income is $50,381 per year, making this location ideal for a Dollar General. This area is seeing explosive growth with the 5 mile population growth rate at 4.6%! 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 7.00% cap rate based on the NOI of $110,064.
INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 5% RENT INCREASES EVERY OPTION!
• 2018 BTS Construction
• 4 (5 Year) Options | 5% Increases At Each Option
• One Mile Household Income $50,381
• Five Mile Population 3,584 | Expected 4.6% Growth
• 3,500 Cars Per Day | Hard Intersection
• Explosive Growth Area | Three Mile Population Growth Rate 4.6%
• Investment Grade Dollar Store With “BBB” Credit Rating
• Dollar General Guaranty
Instate Broker of Record: Brian Brockman | Bang Realty