Dollar General | High CAP Rate | No State Income Tax

3820 FL-390, Panama City, FL

$1,498,000

Price

7.25%

Cap Rate

$108,600

NOI (1ST YR)

Overview
Cap Rate
7.25%
NOI (1ST YR)
$108,600
Building Size
9300 sqft
Lot Area
2.5 acres
Lease Type
Double Net
Year Built
2010
Price Per Sqft
$0
Parking Spots
27
Year Last Renovated
2018
Gross Leaseable area
9300
Description

OMDM is pleased to offer this single tenant, Net Lease, fee simple investment opportunity in Panama City, Florida. The offering is inclusive of a 15-year NN lease (6.5 Years Remaining), backed by Dollar General, one of the Nation's premier specialty retailers of discount goods.


Excellent Location. One of the few Properties not affected by the Hurricane Due to Its Strong Construction. Low Rent Per Square Foot of $11.67 is significantly below market rents should ensure longevity at this location. Built-in Rent Increases in Year 11 and 10% Rent Increase in each of the 3 x 5-year option Periods

The company currently operates 15,000 locations in 44 states and is expected to open another 900 new stores and remodel 1,000 existing stores in 2018.

Highlights
  • Strong Investment Grade Tenant BBB- | Corporate Guarantee
  • No State Income Tax | ~3-Miles From The Beach
  • Rapidly Growing Market with Strong Local Market Fundamentals
  • 10% Rent Increases w/ Rare Year-11 Rent Increase
  • Dense Infill Location with Heavy Traffic Counts
  • Low Rent Per Sf of $11.57
Documents

Location
Gallery