Description
| Price | $2,175,000 | CAP Rate: | 5.75% |
| Property Type | Net-Leased | Total Lot Size | 2.97 AC |
| Property Sub-type | Commercial | Zoning Description | C-1 |
| Sale Type | Investment |
| Listing ID: 17192755 | Date Created: 05/08/2020 |
Property Description
| Price | $2,175,000 | Lot Size | 2.97 AC |
FL Retail Advisors is pleased to offer the fee simple interest in a brand new Build-to-Suit freestanding Dollar General store that operates under an Absolute ‘NNN’ lease with approximately 15± years remaining on the term and with three (3) successive five-year option periods to extend.
Sale Notes
Dollar General Corporation(1), the Guarantor under the Lease, carries an Investment Grade Rating of “BBB” from Standard & Poor’s. Dollar General Corporation’s net sales increased 9.0% to $6.1 billion in the first quarter of 2018 compared to $5.6 billion in the first quarter of 2017. Dollar General has become one of the fastest growing retailers in the United States with 15,000 locations nationwide across 44 states.
The building was originally designed and developed on a build-to-suit basis for Dollar General with concrete block construction, stucco exterior walls, quality construction.
As of 8/3/2018 Dollar General operates 15,015± stores across 44 states. Dollar General opened 510 new stores in the first half of 2018 and plans to increase that number to 900 by year end and employs more than 130,000 people through its 15,000± retail stores and 15 distribution centers.
Dollar General Corporation is ranked #119 for the Fortune 500 in 2019.
