Dollar General – Wewahitchka, FL

$2,062,189
Price
$109,296
Noi
5.30%
Cap Rate
10,640
Leasable Area
2021
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, upgraded, 10,640 SF. BTS Dollar General PLUS store located in Wewahitchka, Florida. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. 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 is preparing for construction, with rent commencing in July of 2021.

This Dollar General is highly visible as it is strategically positioned on the corner of US Highway 71 and Overstreet Road which sees 6,009 cars per day. The ten mile population from the site is 7,623 while the three mile average household income is $52,880 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the three mile population growth rate at 5.18%. 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 5.30% cap rate based on NOI of $109,296.

INVESTMENT HIGHLIGHTS
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Upgraded Plus Size Construction | 2021 BTS
• Hard Corner Location | Located on Main Thoroughfare
• 4 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $52,880
• Ten Mile Population 7,623
• Three Mile Population Growth Rate 5.18%
• 6,009 Cars Per Day at US Highway 71 & Overstreet Road
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth

 

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