About This Restaurant
Investment Highlights
Executive Summary
2023 UPGRADED CONSTRUCTION FL DOLLAR GENERAL? 10,640 SF upgraded construction Dollar General located in the panhandle of Florida.? This building was built in 2023 and the rent commenced in February 2023. INTERSTATE LOCATION WITH POPULATION GROWTH? Located on a corner lot on Hwy 90 (10,400 VPD) and directly off Interstate 10 (27,677 VPD)? The 5 mile population is 12,645 with 4.96% growth. NEAR PENSACOLA, FL | 2 MILLION VISITORS PER YEAR? This Dollar General is located 1 hour east of Pensacola off Interstate 10 (27,677 VPD) and is also part of the Destin MSA.? Pensacola is one of the largest metropolitan areas in the Gulf Coast region with a population of over 502,000 with close proximity to Mobile, Birmingham, and Atlanta.? Pensacola is home to some of the world?s top ranked resorts and beaches that attract over 2 Million visitors per year that contribute over $820 Million to the economy annually.? Naval Air Station Pensacola is the primary training base for all U.S. Navy Marine Corps and home base for the Blue Angels. This base employs 23,400 military and civilian personnel.? The Port of Pensacola is Northwest Florida?s most diverse and business focused deep-water 265,000 SF port that had a revenue of over $2.5 Million in 2022.? Home to multiple Universities and colleges including the University of West Florida (12,850 Students), Pensacola State College (9,773 Students), Pensacola Christian College (4,712 Students) and more. FLORIDA IS A TAX FREE STATE? Florida is one of seven tax free states in the country.? Florida is one of the fastest growing states in the country and is adding over 211,000 residents each year. 14 YEAR CORPORATE NNN LEASE? There are 14 years remaining on a 15-year corporate guaranteed NNN Lease with Dollar General.? Tenant is 100% responsible for all expenses including taxes, insurance, roof and structure.? There are 10% rent increases in each of the Five, 5-year option periods. INVESTMENT GRADE TENANT? Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB.? Currently over 20,000 locations and plans to open 800 stores in 2024.? Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion.
Property Details
- Sale Type Investment
- Property Type Retail
- Property Subtype Retail
- Building Size 10,640
- Building Class C
- Year Built 2023
- Price 1,549,000
- Price Per SF 146
- Cap Rate 6.50
- NOI 100,632
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.10
- Land Acres 2.50 AC
| Date Created: | 2024-07-16 04:13:34 | Last Updated: | 2024-07-16 04:13:34 |
| Address: | 5650 US-90 , Defuniak Springs, Florida, 32433 | ||