DOLLAR GENERAL | PANAMA CITY, FLORIDA

Purchase Price
$1,600,000
Location
13610 Hwy 77
Cap Rate
5.57%
Annual Rent
$89,189.88
Building Size
9,002 SF
Land Area
1.43 Acres
Ownership
Fee Simple
Lease Type
Absolute NNN
Term Remainning
8.5 Years
LEASE EXPIRATION
03/31/2030
Renewal Options
Four (4) - Five (5) Year
RENT INCREASES
10% at Options
Parking
36 Spaces
Year Built
2015
APN
07500-102-000
Traffic Counts
11,471 VPD

INVESTMENT HIGHLIGHTS

 

DOLLAR GENERAL CORPORATE LEASE:

  • Approximately 8.5 Years Remaining in the Initial 15 Year Lease Term
  • 2015 Build to Suit Construction - 9,002 SF
  • Four (4) - Five (5) Year Option Periods
  • 10% Rental Increases in Options
 

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 PANAMA CITY, FLORIDA:

  • Tallahassee, Florida | 91 Miles
  • Pensacola, Florida | 122 Miles
  • Montgomery, Alabama | 159 Miles
  • Mobile, Alabama | 170 Miles
  • Jacksonville, Florida | 258 Miles
 

TRADE AREA DEMOGRAPHICS:

  • 1-Mile Population = 574 Residents
  • 1-Mile Average Household Income = $91,972
  • 3-Mile Population = 3,034 Residents
  • 3-Mile Average Household Income = $88,075
  • 5-Mile Population = 3,653 Residents
  • 5-Mile Average Household Income = $83,144
  • 7-Mile Population = 5,781 Residents
  • 7-Mile Average Household Income = $76,502
 

PANAMA CITY, FLORIDA:

  • The County Seat of Bay County, Florida
  • Located Along U.S. Route 98 and is the Largest City Between Tallahassee and Pensacola
  • St. Andrews Bay Surrounds Much of Panama City and Provides a Protected Harbor for Facilities at the Growing Port of Panama City Complex
 

TENANT:

  • Dollar General (NYSE: DG) Features Investment Grade Credit "BBB" by Standard & Poor's
  • 17,683 Stores in 46 States as of July 30, 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)

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