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Dollar General 8000 103rd St 7,545 SF 100% Leased Retail Building Jacksonville, FL 32210 $2,045,920 ($271.16/SF) 6.25% Cap Rate
Investment Highlights
- Major MSA & Coastal Market Location | No State Income Tax Investment
- Main Retail Corridor Location | Directly off Interstate 275
- Absolute NNN Lease | Zero Landlord Responsibilities | Rental Increases
- Fortune 500 Retailer | Growth Market | Major Retailers Nearby
Executive Summary
Marcus & Millichap is pleased to present for sale a portfolio of 5 premium location Dollar General stores located in Florida, South Carolina and Indiana. This offering presents a stable, income-producing investment backed by long-term, absolute triple-net (NNN) leases with Dollar General Corporation, a Fortune 500 company with an investment-grade credit rating (S&P: BBB). The package consists of exceptionally strong real estate sites with very dense demographics located in growing cities within primarily southern markets. The portfolio is priced at $7.9 million with a combined annual net operating income (NOI) of $515,247, offering a blended cap rate of over 6.5%+. The properties have firm term leases remaining that average 9.2 years, with four 5-year renewal options, each featuring 10% rental increases, providing inflation hedge and built-in income growth.
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,545 SF
Building Class
C
Year Built
2019
Price
$2,045,920
Price Per SF
$271.16
Cap Rate
6.25%
NOI
$127,870
Percent Leased
100%
Building Height
1 Story
Building FAR
0.15
Lot Size
1.13 AC
Zoning
CCG-2
Parking
36 Spaces (4.77 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 7,545 SF
- $16.95
- Triple Net
- Oct 2034
Dollar General is a national discount retailer operating multiple neighborhood-scale stores throughout New Port Richey, Florida. The Massachusetts Avenue location serves surrounding residential neighborhoods with a broad assortment of everyday necessities at low price points. The store offers groceries, snacks, health and beauty products, cleaning supplies, basic apparel, paper goods, seasonal items, and private-label merchandise.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 7,545 SF | $16.95 | Triple Net | Oct 2034 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 013523-0000 | Improvements Assessment | $655,257 |
| Land Assessment | $672,743 | Total Assessment | $1,328,000 |
Property Taxes
Parcel Number
013523-0000
Land Assessment
$672,743
Improvements Assessment
$655,257
Total Assessment
$1,328,000
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