3407 Mahogany Dr Pace, FL 32571

This is a 10,640 square foot Dollar General Plus store, currently under construction and slated to open in November 2025. The property is located in Pace, Florida, part of the Pensacola Market, in a significant development area. The lease is an absolute NNN lease with zero landlord responsibilities, secured for 15 years. It includes 5% rental rate increases every 5 years, including at each of the five 5-year renewal options. The lease is corporately guaranteed by Dollar General Corporation, which holds a “BBB” credit rating. The store is strategically positioned on the corner of Mahogany Drive and Chumuckla Highway, with a traffic count of 12,000 cars per day. It is situated across from a new 40-acre church and preschool development and adjacent to a brand new 2,700-acre mixed-use community. The location benefits from a 5-mile population of 22,818 and a 3-mile average household income of $130,401 per year. The 5-mile population growth rate is 14.79%. This property is suited for a 1031 exchange buyer or a passive investor seeking fee simple ownership. The location is ideal for a Dollar General, offering continued success due to the financial strength and proven profitability of the tenant.