Dollar General – Tallahassee, FL
Fortis Net Lease is pleased to present this brand new construction 10,640 SF. upgraded Dollar General PLUS SIZE store located in Tallahassee, Florida. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (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 just completed construction and is now open for business!
This Dollar General is highly visible as it is strategically positioned on the signalized hard corner of Gaile Avenue and Woodville Highway which sees 29,800 cars per day. The five mile population from the site is 120,619 while the one mile average household income is $50,894 per year, making this location ideal for a Dollar General. This area is also experiencing steady growth with the one mile population growth rate at 4.23%. 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 $114,840.
• Absolute NNN 15 Year Lease
• Zero Landlord Responsibilities
• Brand New Construction | Upgraded Design | Plus Size Store
• Hard Signalized Corner Location | Gas Station Adjacent
• 5 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $50,894
• Five Mile Population 120,619
• 29,800 Cars Per Day at Gaile Avenue and Woodville Highway
• Investment Grade Dollar Store with “BBB” Credit Rating
• On a Main Thoroughfare into Downtown Tallahassee
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.