Brand New Dollar General with Rent Bumps!

$3,038,800

3407 Mahogany Drive, Pace, FL 32571

For Sale

Retail Unknown Sub Type

Active

Last Updated: 07/31/2025

Details:

Cap Rate: 6%

NOI: $182,328

Building Size: 10,640 sqft

Lot Area: 1.93 acres

Lease Type: Absolute Net

Year Built: 2025

Price Per Sqft: $285.60

Offered by

Bryan Bender

Partner & Managing Director

Fortis Net Lease

Request Info to Unlock

Highlights:

Brand New 15 Year Absolute NNN Lease
Zero Landlord Responsibilities | Pensacola Market
2025 BTS Plus Size & Upgraded Construction
Corner Location | 12,000 Cars Per Day
5% Rental Rate Increases Every 5 Years!
5 (5 Year) Options | 5% Increases At Each Option
3 Mile Household Income $130,401
5 Mile Population 22,818 | Expected 14.79% Growth!
Investment Grade Dollar Store With "BBB" Credit Rating
Dollar General Corporate Guaranty
Across from New Development - Marcus Pointe Baptist Church | 40 Acre Worship Center & Preschool

Description:

Fortis Net Lease is pleased to present this 2025 BTS 10,640 SF. Dollar General Plus store located in Pace, Florida - Part of the Pensacola Market. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years including at each of the 5 (5 year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is under construction with store opening & rent start on track for November 2025.

This Dollar General is highly visible as it is strategically positioned on the corner of Mahogany Drive & Chumuckla Highway which sees 12,000 cars per day. It is situated across from a new development 40 acre Church & preschool. The 5 mile population from the site is 22,818 and the 3 mile average household income is $130,401 per year, making this location ideal for a Dollar General. This is a huge growth area with the 5 mile population growth rate at 14.79%! The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of 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 6.00% cap rate based on NOI of $182,328