- Brand New Absolute NNN Lease
- Zero Landlord Responsibilities
- 15 Year Term | Four (5 Year) Options
- One Mile Household Income $47,009
- Five Mile Population Exceeds 143,500
- 6.37% Growth Expected in One Mile
- Five Miles to Busch Gardens Tampa Bayhttp://fortisnetlease.com/dollar-general-18/
Fortis Net Lease is pleased to present this 7,500 SF Dollar General store located in Tampa, FL. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (5) Yr. Options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The rent is scheduled to commence on 11/6/2017.
This Dollar General will highly visible and is strategically positioned in Tampa, FL. The five mile population from the site exceeds 143,500 while the one mile median household income exceeds $47,009 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 5.85% cap rate based on NOI of $119,412.