Dollar General – Port St. Joe, FL
Fortis Net Lease is pleased to present this 10,640 SF Dollar General plus-sized store located in Port St. Joe, Florida. The property offers 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 scheduled to commence in November 2020.
This Dollar General is highly visible as it is strategically positioned on Field of Dreams just off of Highway 98 which sees 3,500 cars per day. The ten mile population from the site is 6,764 while the three mile average household income is $63,763 per year, making this location ideal for a Dollar General. The area is experiencing great growth with the 5 mile population growth rate at 5.14%. 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 5.75% cap rate based on NOI of $110,376.
• Absolute NNN Lease | Zero Landlord Responsibilities
• Brand New Plus Size Construction | 15 Year Term
• Four (5 Year) Options | 10% Rental Increase at Each
• Three Mile Household Income $63,763
• Ten Mile Population 6,764
• Five Mile Population Growth Rate 5.14%
• 3,500 Cars Per Day on US Highway 98
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Across the Street From Gulf Coast State College – Gulf/Franklin Campus and Sacred Heart Hospital
Instate Broker of Record: Michael Orden | Naples Real Estate Consultants | License # BK3224663