• Broker Brian Brockman 5133000763

24710 SE Highway 42 9,100 SF Retail Building Umatilla, FL 32784 $1,429,294 ($157.07/SF) 7% Cap Rate

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INVESTMENT HIGHLIGHTS

  • 15 Year Absolute NNN Lease
  • 5% RENT INCREASES EACH OPTION!
  • One Mile Household Income $75,322
  • Zero Landlord Responsibilities
  • 4 (5 Year) Options | 5% Increases At Each Option
  • Five Mile Population 5,883 | Expected 5% Growth

EXECUTIVE SUMMARY

Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Umatilla, Florida. The property offers a 15 Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5% rent increases in each of the 4 (5 Year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classi?ed as Investment Grade. The store is open and has been successfully operating since 2018.
This Dollar General is highly visible as it is strategically positioned on SE Hwy 42, seeing 3,600+ cars per day. It sits just 500 feet from a residential neighborhood which consists of hundreds of homes spread throughout 244 acres. The 5 mile population from the site is 5,883 and the 1 mile average household income is $75,322 per year, making this location ideal for a Dollar General. This area is seeing explosive growth with the 5 mile population growth rate at 4.5%! 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 ?nancial strength and the proven pro?tability of the tenant, the nation’s top dollar store. List price re?ects a 7.00% cap rate based on the NOI of $100,050.

ATTACHMENTS

Dollar General - FL - Umatilla - OM

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Building Size
9,100 SF
Building Class
C
Year Built
2018
Price
$1,429,294
Price Per SF
$157.07
Cap Rate
7%
NOI
$100,051
Tenancy
Single
Building Height
1 Story

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Retailer
  • 9,100 SF
  • $10.99
  • Triple Net
  • Jun 2033

DG is proud to be America’s neighborhood general store. We strive to make shopping hassle-free and affordable with convenient, easy-to-shop stores all across the states. DG's stores deliver everyday low prices on items including food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, seasonal items, paper products and much more from America’s most-trusted brands and products, along with high-quality private brands. From serving their customers with value and convenience and their employees with career opportunities to serving the communities they call home through literacy and education, Dollar General has been committed to its mission of Serving Others since the company’s founding in 1939.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Retailer 9,100 SF $10.99 Triple Net Jun 2033

TRAFFIC

COLLECTION STREET CROSS STREET TRAFFIC VOLUME YEAR Distance
SE Hwy 42 SE Hwy 450, W 3,658 2022 1.06 mi
SE Hwy 450 SE Hwy 42, N 1,288 2022 1.19 mi
Co Rd 450 SE 237th Ct, W 1,359 2020 1.28 mi
SR 137 SE 237th Ct, W 1,450 2020 1.28 mi
Co Rd 450 St Thomas Ave, SE 1,617 2022 1.47 mi
SE 159th Ln SE 265th Court Rd, NW 3,625 2020 2.13 mi
County Road 42 SE 265th Ct R, NW 4,200 2020 2.13 mi
SE Hwy 452 SE Hwy 42, N 4,858 2022 2.31 mi
SR 137 SE 182nd Ave, NW 4,600 2020 2.42 mi
Co Rd 452 N Em en el Grove Rd, N 5,962 2022 2.97 mi

MAP

ADDITIONAL PHOTOS

View Photo Regional Map Umatilla FL
View Photo Prox Map Umatilla FL copy
View Photo Dollar General_24710 SE Hwy 42, Umatilla, FL 32784 Site Plan