Dollar General – Tallahassee, FL

$2,790,667
Price
$125,580
Noi
4.50%
Cap Rate
7,500
Leasable Area
2021
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this brand new construction 7,500 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 October 2021.

This Dollar General is highly visible as it is strategically positioned on the signalized hard corner of Ausley Road and Jackson Bluff Road which sees 21,003 cars per day – and within walking distance to the Florida State University Campus! The five mile population from the site is 149,494 while the three mile average household income is $42,057 per year, making this location ideal for a Dollar General. This area is also experiencing steady growth. 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 4.50% cap rate based on NOI of $125,580.

INVESTMENT HIGHLIGHTS
• 1 Mile from Florida State University | 43,000+ Students!
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Brand New Construction | Upgraded Metro Design
• Hard Signalized Corner Location
• 4 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $42,057
• Five Mile Population 149,494 | 5 Mile Consumer Spending is $1.5 Billion!
• 21,003 Cars Per Day at Ausley Rd. & Jackson Bluff Rd.
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Adjacent to Sail High School

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