Brand New Dollar General Plus With Rent Bumps

Highlights:

• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 5% Rental Rate Increases Every 5 Years
• Five (5 Year) Options | 5% Rental Increase At Each Option
• One Mile Household Income $38,965
• Five Mile Population 37,712 | 8.99% Expected Growth
• 12,900 Cars Per Day on Sebring Parkway
• Investment Grade Dollar Store with "BBB" Credit Rating
• 0.6 Miles From HCA Florida Highlands Hospital
• On Main Thoroughfare into Downtown Sebring
• Great Growth Area | 1 Mile Population Growth Rate 10.09%

Description:

Fortis Net Lease is pleased to present this 10,566 SF. Dollar General Plus store located in Sebring, Florida. The property is secured with a 15 year, Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5% rental rate increases ever 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 currently completing construction with rent and opening on track for June 2025.

This Dollar General is highly visible as it is strategically positioned on Sebring Parkway which sees 12,900 cars per day, off of a main thoroughfare into downtown Sebring. It sits 1/2 mile from HCA Florida Highlands Hospital and Fred Wild Elementary School. The five mile population from the site is 37,712 while the one mile average household income is $38,965 per year, making this location ideal for a Dollar General. This area is seeing great growth with the 1 mile population growth rate at 10.09%! 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 6.25% cap rate based on NOI of $166,980.

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