Dollar Tree

Highlights:

• Brand New Outlot Build | Upgraded Construction
• All Brick Building
• Huge Traffic Generators | Target & Aldi!
• 10 Year NN Lease Requiring Minimal Landlord Responsibilities
• Six (5 Yr) Options | $0.50 Rental Rate Increase
• Located on Main Retail Artery Leading into Downtown Pensacola
• Investment Credit Tenant | Standard & Poor's: 'BBB-'
• Traffic Count in Excess of 25,000+
• Three Mile Average Household Income $74,931
• The Store Out Positions Other Retailers in Market | High Traffic Counts

Description:

Fortis Net Lease is pleased to present this 9,944 SF Dollar Tree store located in Pensacola, Florida. The property is encumbered with a Ten (10) Year double net lease, leaving minimal landlord responsibilities. The lease contain Six (5) year options to renew, each with $0.50 PSF rent increase. The lease is corporately guaranteed by Dollar Tree Corporation which holds a credit rating of “BBB-” which is classified as investment grade.

This Store is highly visible as it is strategically positioned off of the intersection of Hwy 292 & 173 (which sees over 25,000 vehicles per day). The building is located near a main artery leading into downtown Pensacolas Beach Attractions. The five mile population is over 16,000 with the three mile average household income of $74,931. These are above-average demographics for the average Target.

This investment will offer a new owner success due to the financial strength and the proven profitability of the tenant. List price reflects a 5.25% cap rate based on NOI of $141,702.


Pensacola is the westernmost city in the Florida Panhandle, approximately 13 miles from the border with Alabama, and the county seat of Escambia County. It is the site of the first Spanish settlement within the borders of the continental United States in 1559, predating the establishment of St. Augustine by 6 years, although the settlement was abandoned due to a hurricane and re-established in 1698. Pensacola is a sea port on Pensacola Bay, which is protected by the barrier island of Santa Rosa and connects to the Gulf of Mexico. A large United States Naval Air Station, the first in the United States, is located southwest of Pensacola near Warrington; it is the base of the Blue Angels flight demonstration team and the National Naval Aviation Museum. The main campus of the University of West Florida is situated north of the city center.

Pensacola is home to a number of annual festivals, events, historic tours, and landmarks. The Pensacola Seafood Festival and the Pensacola Crawfish Festival have featured live music for nearly 30 years in the heart of Pensacola’s historic downtown has been held for nearly 30 years. The Great Gulfcoast Arts Festival is held annually in November in Seville Square, and often draws more than 200 regional and international artists. The Children's Art Festival, also held in Seville Square, displays art by local schoolchildren. Pensacon is a comic convention held each February, with nearly 25,000 attendees from around the world.

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