580 W Palm Dr, Homestead, FL

This 9,100 SF Dollar General property is located in Florida City (Homestead), FL, approximately 40 minutes south of downtown Miami, off Hwy 1, which has a traffic volume of 35,500 vehicles per day. The store opened in April 2012 and has approximately 4 years remaining on the initial 15-year corporate guaranteed NNN lease. The tenant is 100% responsible for all expenses, including taxes, insurance, CAM, roof, and structure. There are 10% rent increases in each of the six 5-year option periods. The property is located on West Palm Drive (25,000 VPD), less than half a mile off Hwy 1 (35,500 VPD). National retailers within a 3-mile radius include two Publix Super Markets, Target, Lowe’s Home Improvement, Home Depot, Walmart, and Best Buy. Homestead Air Reserve Base is 10 minutes away. The base serves approximately 1,600 active-duty service members, 1,200 reservists, and 325 civilians. The property is a few miles away from Homestead-Miami Speedway, a 600-acre facility that accommodates over 65,000 racing fans. The 5-mile population is 120,740 with over 14% growth, and the Average Household Income is $65,689. Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB. Currently, there are over 19,000 locations, and the company is expanding by 1,000 stores each year. Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion. Miami’s metropolitan area is the largest urban economy in Florida, with a gross domestic product of $344.9 billion.