Description
| Price | $2,388,495 | CAP Rate: | 5.75% |
| Property Type | Net-Leased | Total Lot Size | 4.17 AC |
| Property Sub-type | Commercial | Zoning Description | C-1 |
| Sale Type | Investment |
| Listing ID: | Date Created: 07/14/2020 |
Property Description
| Price | $2,388,495 | Lot Size | 4.17 AC |
FL Retail Advisors is pleased to offer the fee simple interest in a brandnew Build-to-Suit freestanding Dollar General store that operates under aTriple-Net ‘NNN’ lease with approximately 15± years remaining on theterm and with three (3) successive five-year option periods to extend.Subject isstrategically situated with direct frontage to U.S. Route 192, amajor Florida highway running east to west and traversing central Florida
Sale Notes
Dollar General Corporation(1), the Guarantor under the Lease, carries anInvestment Grade Rating of “BBB” from Standard & Poor’s. Dollar GeneralCorporation’s net sales increased 9.0% to $6.1 billion in the first quarter of2018 compared to $5.6 billion in the first quarter of 2017. Dollar Generalhas become one of the fastest growing retailers in the United States with16,368 locations nationwide across 45 states. Dollar General has had 30consecutive years of same-store sales growth through FY 2019, andreported net sales of $27.8 Billion for FY 2019.The building was originally designed and developed on a build-to-suitbasis for Dollar General with concrete block and metal structure, stuccoexterior walls, quality construction.As of 02/28/2020 Dollar General operates 16,368± stores across 45states. Dollar General opened 510 new stores in the first half of 2018 andplans to increase that number to 900 by year end and employs more than143,000 people through its 16,300± retail stores and 17 traditionaldistribution centers and five DG Fresh cold storage facilities and privatefleet network. Approximately 75 percent of the American population iswithin five-miles of a Dollar General.Dollar General Corporation is ranked #119 for the Fortune 500 in 2019,which is up four spaces from its previous position in 2018 at #123.
