Dollar General – Pensacola, FL
Fortis Net Lease is pleased to present this brand new construction, 9,100 SF. BTS Dollar General store located in Pensacola, Florida. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 preparing for construction, with rent commencing in June of 2021.
This Dollar General is highly visible as it is strategically positioned on the corner of Kersey Road and Pine Forest Road which sees 32,172 cars per day. The five mile population from the site is 103,225 while the one mile average household income is $72,556 per year, making this location ideal for a Dollar General. The area is experiencing great growth with the 1 mile population growth rate at 4.28%. 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 5.25% cap rate based on NOI of $124,440.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Brand New BTS Construction | Upgraded Design
• 4 (5 Year) Options | 10% Rental Increase At Each Option
• One Mile Household Income $72,556
• Three Mile Population Growth Rate 3.42%
• Five Mile Population 103,225 | Expected 3.20% Growth
• 32,172 Cars Per Day on Pine Forest Road
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Surrounded by Residential
• Short Distance from the I-10 Freeway Exit | 43,910 Cars Per Day
InState Broker of Record: Michael Orden | Naples Real Estate Consultants | License #BK3224663