DOLLAR GENERAL | CRESTVIEW, FLORIDA
INVESTMENT SUMMARY
Purchase Price
$2,500,000
Location
1991 PJ Adams Pkwy
Cap Rate
4.95%
Annual Rent
$123,768.00
Building Size
9,100 SF
Land Area
1.49 Acres
Ownership
Fee Simple
Lease Type
Absolute NNN
Term Remainning
13.75 Years
LEASE EXPIRATION
08/31/2035
Renewal Options
RENT INCREASES
10% at Options
Parking
34 Spaces
Year Built
2020
APN
31-3N-23-0000-0002-002C
Traffic Counts
22,464 VPD
INVESTMENT HIGHLIGHTS
DOLLAR GENERAL CORPORATE LEASE:
- Approximately 13.75 Years Remaining in the Initial 15 Year Lease Term
- 2020 Build to Suit Construction
- Upgraded Construction
- Five (5) - Five (5) Year Option Periods with 10% Rental Increases
A TRUE COUPON CLIPPER | ABSOLUTE NNN LEASE:
- Absolute NNN Lease with ZERO Management Responsibilities
- Tenant Pays for ALL Operating Expenses, Insurance & Property Taxes
PROXIMITY FROM CRESTVIEW:
- Pensacola, Florida | 52 Miles
- Panama City Beach, Florida | 83 Miles
- Mobile, Alabama | 99 Miles
- Tallahassee, Florida | 149 Miles
TRADE AREA DEMOGRAPHICS:
- 1-Mile = 5,899 Residents; $89,543 Average Household Income
- 1-Mile Projected Annual Growth = 1.70% (8.50% Over the Next 5 Years)
- 3-Mile = 20,998 Residents; $76,517 Average Household Income
- 3-Mile Projected Annual Growth = 2.39% (11.95% Over the Next 5 Years)
- 5-Mile = 38,983 Residents; $69,720 Average Household Income
- 3-Mile Projected Annual Growth = 2.28% (11.40% Over the Next 5 Years)
TENANT:
- Strong Corporate Guaranty (NYSE: "DG") - Dollar General Corporation is Rated "BBB" by Standard & Poor's
- 18,000 Stores in 46 States as of November 13, 2021
- Dollar General Achieved Their 31st Consecutive Year of Positive Same-Store Sales Growth in 2020
- Ranked #91 on the Fortune 500 List - Up 21 Spots from Last Year (Dollar General has Moved Up the Fortune 500 Rankings for 12 Consecutive Years)