Dollar General – Perry, FL
Fortis Net Lease is pleased to present this brand new construction, 9,100 SF. BTS Dollar General store located in Perry, 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 July of 2021.
This Dollar General is highly visible as it is strategically positioned on the signalized corner of US Highway 19 and County Road 30 which sees 13,200 cars per day. The store is accessible from both roads. The ten mile population from the site is 17,137 while the three mile average household income is $62,764 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 5.15% cap rate based on NOI of $113,964.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Brand New 2021 BTS Construction
• Signalized Corner Location
• 2 Points of Ingress & Egress
• 4 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $62,764
• Ten Mile Population 17,137
• 13,200 Cars Per Day at US Highway 19 & County Rd 30
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
Instate Broker of Record: Michael Orden | Naples Real Estate Consultants | License #BK3224663