Dollar General – Pensacola, FL
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Pensacola, Florida. The property is encumbered with 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 currently under construction, with rent commencing in November 2019.
This Dollar General is highly visible as it is strategically positioned on Scenic Highway which sees 14,975 cars per day. The five mile population from the site is 67,895 while the one mile average household income is $65,535 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a 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 5.85% cap rate based on NOI of $132,652.80.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Brand New Construction
• 4 (5 Year) Options | 10% Rental Increase At Each Option
• One Mile Household Income $65,535
• Five Mile Population 67,895
• 14,975 Cars Per Day on Scenic Highway
• Investment Grade Dollar Store with “BBB” Credit Rating
• Dollar General Reported 28 Consecutive Quarter of Same Store Sales Growth
• Only 6.8 Miles From the Pensacola International Airport
Instate Broker of Record: Michael Orden | Naples RE Consultants | License # BK3224663