DOLLAR GENERAL | MILTON, FLORIDA

Purchase Price
$1,567,565
Location
5325 Berryhill Road
Cap Rate
5.75%
Annual Rent
$90,076.92
Building Size
9,100 SF
Land Area
1.77 Acres
Ownership
Fee Simple
Lease Type
Absolute NNN
Term Remainning
8.25 Years
LEASE EXPIRATION
05/31/2029
Renewal Options
Four (4) - Five (5) Year
RENT INCREASES
10% at Options
Parking
38 Spaces
Year Built
2014
APN
36-2N-29-0000-00401-0000
Traffic Counts
12,000 VPD

INVESTMENT HIGHLIGHTS

 

DOLLAR GENERAL CORPORATE LEASE:

  • Approximately 8.25 Years Remaining in the Initial 15 Year Lease Term
  • 2014 Construction - 9,100 SF
  • Four (4) - Five (5) Year Option Periods with 10% Rental Increases
  • Wide Profile Building Type for Flexible Use and Universal Applications
 

A TRUE COUPON CLIPPER | ABSOLUTE NNN LEASE:

  • Absolute NNN Lease with ZERO Management Responsibilities
  • Tenant Pays for ALL Operating Expenses, Insurance & Property Taxes
  • Ideal, Management-Free Investment for an Out-of-State, Passive Investor
 

EXPLOSIVE POPULATION GROWTH:

  • 1-Mile = 2.59% Annually (12.95% Over the Next 5 Years)
  • 3-Mile = 2.74% Annually (13.70% Over the Next 5 Years)
  • 5-Mile = 2.81% Annually (14.05% Over the Next 5 Years)
  • 7-Mile = 2.82% Annually (14.10% Over the Next 5 Years)
 

PROXIMITY TO OTHER MAJOR CITIES:

  • Pensacola, Florida | 24 Miles - 29 Minute Drive
  • Mobile, Alabama | 71 Miles - 1 Hour: 6 Minute Drive
  • Panama City, Florida | 120 Miles - 2 Hour: 9 Minute Drive
  • Tallahassee, Florida | 177 Miles - 2 Hour: 41 Minute Drive
  • Columbus, Georgia | 228 Miles - 3 Hour: 43 Minute Drive
 

TRADE AREA DEMOGRAPHICS:

  • 1-Mile Population = 1,970 Residents
  • 1-Mile Average Household Income = $78,920
  • 3-Mile Population = 24,925 Residents
  • 3-Mile Average Household Income = $79,379
  • 5-Mile Population = 63,314 Residents
  • 5-Mile Average Household Income = $74,922
  • 7-Mile Population = 82,331 Residents
  • 7-Mile Average Household Income = $77,155
 

TENANT:

  • Dollar General (NYSE: DG) Features Investment Grade Credit "BBB" by Standard & Poor's
  • 17,000 Stores in 46 States as of November 14, 2020
  • Dollar General Achieved Their 31st Consecutive Year of Positive Same-Store Sales Growth in 2020
  • Ranked #112 on the Fortune 500 List - Up 7 Spots from Last Year (Dollar General has Moved Up the Fortune 500 Rankings for 11 Consecutive Years)
  • In 2021 Dollar General Plans to Execute 2,900 Real Estate Projects, Including 1,050 New Store Openings, 1,750 Store Remodels, and 100 Store Relocations

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