Dollar General – Tallahassee, FL

$1,989,895
Price
$113,424
Noi
5.70%
Cap Rate
9,100
Leasable Area
2020
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this brand new construction 9,100 SF. upgraded Dollar General store located in Tallahassee, 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 preparing for construction, with rent commencing in March 2021.

This Dollar General is highly visible as it is strategically positioned at the intersection of Apalachee Parkway, which sees 12,155 cars per day, and Chaires Crosse Road, which sees 6,429 cars per day. The ten mile population from the site is 123,056 while the three mile average household income is $97,315 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 5.70% cap rate based on NOI of $113,424.

INVESTMENT HIGHLIGHTS
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Brand New Construction | Upgraded Wood Design
• 4 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $97,315
• Ten Mile Population 123,056
• 18,584 Cars Per Day at Intersection (Apalachee Pkwy & Chaires Crosse)
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Located on Main Thoroughfare into Downtown Tallahassee

Instate Broker of Record: Michael Orden | Naples RE Consultants | License #BK3224663