Dollar General – Sarasota, FL

$2,604,343
Price
N/A
Noi
Market
Cap Rate
7,489
Leasable Area
2019
Year Built

Fortis Net Lease is pleased to present this 7,489 SF. Dollar General store located in Sarasota, Florida. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. There are 11.5 years still remaining on the primary term. 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 has been open & operating successfully since July of 2019.

This Dollar General is highly visible as it is strategically positioned on Fruitville Road which sees 17,299 cars per day and adjacent to a Tractor Supply Company (which ranks in the top 1/3 of all TSC stores in the US) and a future 7-Eleven site. This area is extremely active with new developments – hundreds of luxury apartments, upscale shopping center projects, etc. surround the site. The 5 mile population from the site is 104,116 and the 1 mile average household income is $118,218 per year, making this location ideal for a Dollar General. This area is experiencing huge growth with the 3 mile population growth rate is 12.40% and the 5 mile consumer spending is $1.5 Billion! 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.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2019 BTS Construction | 11.5 Years Remain on Primary Term
• Very Active Development Area | Hundreds of New Luxury Apartments & Upscale Shopping Centers
• 4 (5 Year) Options | 10% Increases At Each Option
• Tractor Supply Company Adjacent (Performs in the top 1/3 of all TSCs in US)
• Future 7-Eleven Development Adjacent to the Site
• One Mile Household Income $118,218
• Five Mile Population 115,504 | Expected 10.94% Growth
• Three Mile Population Growth Rate 12.40%
• 17,299 Cars Per Day on Fruitville Road
• Only 1 Mile to I-75 exit/entrance Ramp | 118,331 VPD
• 2.5 Mi. to Founders Golf Club | Sarasota’s Finest Private Golf Club
• Investment Grade Dollar Store With “BBB” Credit Rating
• Short distance to Siesta Key Beach | Popular Tourist Area

Instate Broker of Record: Michael Houghton | Oak Realty Advisors

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM