|Price||$2,400,000||Sale Conditions||Investment Triple Net|
|Property Type||Retail||No. Stories||1|
|Building Class||A||Parking Ratio|
|Sale Type||Investment||Zoning Description||Commercial|
|Cap Rate||5.46%||APN / Parcel ID|
|Lot Size||1.65 AC||Walk Score ®||19 (Car-Dependent)|
|Gross Leasable Area||7,545 SF|
This Investment Opportunity is a freestanding, build-to-suit Dollar General store that operates under an Absolute NNN lease with approximately 15± years remaining on the lease with 10 percent rental increase in year 16, and 10 percent increases in each of the three five-year options. The Subject is located in Sunrise, FL, which belongs to the Miami-Fort Lauderdale-West Palm Beach MSA and is home to an estimated population of 6,723,472 as of 2016, making it the seventh-largest metropolitan area in the United States. The Property is strategically located near the high-traffic intersection of Pine Island Road and NW 44th Street, exposing it to combined traffic counts of 50,500± VPD. 44th Street serves as a dense retail artery with favorable demographics and more than an estimated 180,000± people living within a three-mile radius.
Brand New CONSTRUCTION (BUILD-TO-SUIT DESIGN)
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.
- Brand New Construction (Build-to-Suit Design)
- 15+ Years Remaining on Primary Term of Triple-Net Lease
- Corporately Guaranteed ‘NNN’ Lease with Credit Tenant (S&P: BBB)
- Hard Corner – Left In, Left Out & Right In, Right Out Ingress Egress Access Points
- Outparcel to 45,000 SF Shopping Center
- Densely Populated Area | 181,009± Population, $67,697± AHHI within 3-Mile Radius
This Investment Opportunity is a freestanding Dollar General store that operates under an Absolute NNN lease with approximately 15± years remaining on the lease with 10 percent rental increase in year 16, and 10 percent increases in each of the 3 Five year options.
Dollar General Corporation(1), the Guarantor under the Lease, carries an Investment Grade Credit Rating of “BBB” from Standard & Poor’s.
Major Tenant Information
|Tenant||SF Occupied||Lease End Date|
|Dedicated Turn Lane||Signalized Intersection|
|Collection Street||Cross Street||Traffic Vol||Year||Distance|