Fortis Net Lease is pleased to present this brand new 10,640 SF Dollar General Market store located in DeFuniak Springs, Florida. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is currently under construction with store opening & rent on track to start in early August 2025.
This Dollar General Market is highly visible as it is strategically positioned on the hard corner of County Hwy 181 E & FL-83 seeing 3,300 cars per day. It sits in a limited competition area with the next dollar store over 12 miles away. The 10 mile population from the site is 4,944 while the 3 mile average household income is $43,729 per year, making this location ideal for a Dollar General. This area is experiencing explosive growth with the 3 mile population growth rate at 15.81%! The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top small box discount retailer. List price reflects a 6.30% cap rate based on NOI of $151,344.
Site Plan
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