Family Dollar Tree – Reddick, FL
Fortis Net Lease is pleased to present this 10,431 SF. freestanding Family Dollar | Dollar Tree, dual concept store located in Reddick, Florida – part of the Ocala Market. The property offers a new 10 year NNN Lease, leaving minimal landlord responsibilities. The lease contains 4 (5 year) options to renew, each with a $0.50 PSF rental rate increase. The lease is corporately guaranteed by Dollar Tree which holds a credit rating of “BBB-”,which is classified as Investment Grade. The store has finished construction & opened for business in February 2024.
This Family Dollar | Dollar Tree store is highly visible as it is strategically positioned on the corner of W Highway 318 & Highway 441 which sees 14,432 cars per day. It sits adjacent to a Circle K gas and convenience store and only a 5 minute drive to the World Equestrian Jockey Club – the largest equestrian complex in the country & still expanding! Sitting just a 15 minute drive away from the University of Florida, the ten mile population from the site is 24,640 while the three mile average household income is $61,368 per year, making this location ideal for a Family Dollar | Dollar Tree store. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Family Dollar | Dollar Tree store. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, one of the nation’s top dollar stores. List price reflects a 7.00% cap rate based on NOI of $151,410.
INVESTMENT HIGHLIGHTS
• Dual Concept Stores See a 20% Increase in Revenue
• 20 Miles to University of Florida | Only a 15 Minute Drive!
• New 10 Year NNN Lease Requiring Minimal Landlord Responsibilities
• 2024 BTS Construction | NOW OPEN – February 2024
• Signalized Intersection | Easy Access to Highway 441
• 5 Minute Drive to World Equestrian Jockey Club – The Largest Equestrian Complex in the Country! Huge Visitor Draw!
• Four (5 Year) Options | $0.50 PSF Rental Rate Increase
• Adjacent to Circle K | Less Than 3 Miles to Ocala Jai Alai Casino
• Investment Credit Tenant | Standard & Poor’s: ‘BBB-‘
• 14,432 Cars Per Day at W Highway 318 & Highway 441
• 3 Mile Average Household Income $61,368
• 10 Mile Population 24,640 | Expected Growth 3.25%
• Ocala Florida Market Area
In State Broker of Record: Brian Brockman | Bang Realty