This property is Off-Market
16630 S Highway 301
Summerfield, FL 34491 ·
9,026 SF · Retail For Sale
Dollar General | New 15-Yr Absolute NNN Lease
|Building Size||9,026 SF||No. Stories||1|
Free Standing BldgMore...
|Property Use Type||Net Lease Investment with 10+ years left on lease||Lot Size||1.10 AC|
|Listing ID: 17825563||Date Created: 09/10/2012||Last Updated: 10/10/2012|
The subject property is a new freestanding Dollar General located in Summerfield, Florida. The brand new 15 year absolute NNN lease commenced August, 2011. There is a 3% rental increase in year 11 of the primary lease term and additional 10% rental increases in each of the (4) five year option periods. This is an excellent opportunity for an investor to purchase a stable, long term investment with zero landlord responsibility.
The site is located next to a busy signalized intersection at the southwest corner of Highway 42 and US Highway 301. The property has excellent visibility along Highway 42 (4 lane divided highway), the major east-west thoroughfare and retail corridor running through Summerfield. The property fronts US Highway 301, which is a newly constructed 4 lane divided highway. Highway 301 is a major north-south highway that runs all the way from the Sarasota-Bradenton-Venice MSA northeast to the Greater Jacksonville area. Traffic counts at the subject property currently exceed 24,000 vehicles per day (US Hwy 301: 13,400 vehicles per day & Highway 42: 11,000 vehicles per day).
This Dollar General benefits tremendously from its close proximity (less than 1 mile) to The Villages, a master-planned age-restricted retirement community with over 5,000 houses. Additionally with the closest dollar store located over 3 miles away from the subject property, there is virtually zero competition for this Dollar General with the trade area population far exceeding Dollar General' s requirements (3 mile population exceeds 20,000). Dollar General expects to do approximately $1.7M in store sales at this location, far exceeding their national average.
Summerfield is a rapidly growing community in central Florida located approximately 20 minutes south of Ocala, 1 hour outside Orlando, and 1½ hours outside Tampa. Summerfield is located in Marion County and part of the Ocala, FL Metropolitan Statistical Area. Between 2000 and 2011, there was a 107% increase in population within a 3 mile radius of the property and a 95% increase within a 5 mile radius.
- New 15 Year Absolute Net Lease - Corporate Guarantee
- S&P Rated: BBB-Investment Grade Tenant ($4.6 Billion Net Worth)
- Over 62,000 Population in Five (5) Mile Radius; 107% Population Growth Over Last 10 Years
- Signalized Intersection with Average Daily Traffic Counts Exceeding 24,000 Vehicles per Day
- Located Within 1 Mile from "The Villages," a Huge Retirement Community with 5,000+ Houses
- Income Tax Free State
16630 S Highway 301, Summerfield, FL 34491 (Marion County)
Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property
Not exactly what you're looking for? Start a new custom search to find the perfect property
The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind.