Dollar General – Tampa, FL

$2,388,218
Price
N/A
Noi
Market
Cap Rate
7,849
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, 7,849 SF. metro style Dollar General store located in Tampa, Florida. The property is encumbered with 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 commencing in July 2020.

This Dollar General is highly visible as it is strategically positioned on S. 78th Street which sees 3,600 cars per day. The five mile population from the site is 59,116 while the one mile average household income $53,955 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the three mile population growth rate at 10.55%. 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
• Brand New Metro Style Construction
• 4 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $53,955
• Five Mile Population 59,116 | Expected 10.31% Growth
• Three Mile Population Growth Rate at 10.55%
• 3,600 Cars Per Day on S. 78th Street
• $1.257 Billion in 5 Mile Consumer Spending
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Quarter of Same Store Sales Growth

 

Instate Broker of Record: Michael Houghton | Oak Realty Advisors