3950 Fl-44 New Smyrna Beach, FL 32168

Fortis Net Lease is pleased to present this 2018 BTS, 9,100 SF. Dollar General store with upgraded construction located in New Smyrna Beach, Florida - a popular tourist area attracting 10 Million Visitors per year. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities, with 7.75 years remaining on the primary term. The lease contains 4 (5 Year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has been successfully open and operating since August 2018. This Dollar General is highly visible as it is strategically positioned on FL-44 which sees 17,400 cars per day near the intersection of Tomoka Farms Road which sees 13,200 cars per day. It is adjacent to a Circle K and across the street from New Smyrna Speedway; the host of weekly NASCAR races & the World Series of Asphalt Stock Car Racing - 9 straight days of racing that can attract 50,000 visitors! The ten mile population from the site is 132,208 and the three mile average household income is $107,179 per year, making this location ideal for a Dollar General. This area is experiencing massive growth with the five mile population growth rate at 11.56%. The 5 Mile Consumer Spending is $1.6 Billion within a 10 mile radius. 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 6.75% cap rate based on NOI of $126,666.96.
New Smyrna Beach is a charming seaside city located in Volusia County, Florida, United States. The city is situated on a barrier island between the Atlantic Ocean and the Indian River Lagoon, offering visitors and residents access to both the beach and the river. The city has a relaxed and laid-back vibe, with a welcoming atmosphere and a wide range of recreational activities. The soft, sandy beaches stretch for miles, making it the perfect spot for swimming, sunbathing, and surfing. The beach is also home to a variety of wildlife, including sea turtles and dolphins, and is a popular spot for fishing. In addition to its natural beauty, New Smyrna Beach is known for its historic charm. The city's downtown area features a variety of quaint shops, art galleries, and restaurants, many of which are housed in historic buildings dating back to the early 1900s. Visitors can also explore the city's rich history by visiting the New Smyrna Museum of History, which showcases the area's Native American and Spanish colonial roots. New Smyrna Beach is also a popular destination for outdoor enthusiasts. The city boasts several parks, nature preserves, and waterways, offering opportunities for hiking, birdwatching, kayaking, and more. The nearby Canaveral National Seashore is a popular spot for camping and exploring the natural beauty of the area. Overall, New Smyrna Beach offers visitors a unique blend of history, natural beauty, and outdoor adventure. Whether you're looking for a relaxing day on the beach or an action-packed outdoor excursion, this charming city has something for everyone.
7.5 Years Remaining on Primary | Upgraded Construction
Popular Tourist Destination | Attracts 10 Million Visitors Each Year
Across from New Smyrna Speedway | NASCAR Event Host
Near Signalized Corner at Tomoka Farms Rd | 13,200 VPD
4 (5 Year) Options | 10% Increases At Each Option
Three Mile Household Income $107,179
Ten Mile Population 132,208 | Expected 10.73% Growth
17,400 Cars Per Day on FL-44
Investment Grade Dollar Store With "BBB" Credit Rating
Dollar General Corporate Guaranty
Adjacent to Circle K | Only Dollar Store Within 7+ Miles