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Dollar General 2115 US Highway 90 9,100 SF Retail Building Defuniak Springs, FL 32433 $2,376,500 CAD ($261.15 CAD/SF) 6.05% Cap Rate
Investment Highlights
- Corporate Lease Guaranty from Dollar General Corp (NYSE: DG) – S&P: BBB Credit Rating – Investment Grade Credit
- Ranked #2 Location in Trade Area by Number of Visitors (Placer.ai) – This Location is the #2 Store Out of 8 Locations in a 15-Mile Radius (Placer.ai)
- Strong Population Growth – Commercial and Residential Development Pipeline – Income Tax-Free State
- Absolute-NNN Lease – 2020 Built-to-Suit Construction – Large Parcel – 10% Rent Increases in the Option Periods
- Located Along Hwy 90 – Proximity to I-10 – National Retailers in Marketplace Include Walmart, Lowe’s, Tractor Supply, Aldi, Chick-fil-A, and More
Executive Summary
Lee & Associates, in association with Bang Realty, is pleased to present the opportunity to acquire a fee simple interest in a single-tenant Dollar General property located at 2115 US Highway 90 E in DeFuniak Springs, Florida. The asset consists of a 9,100 square foot retail building situated on approximately 3.83 acres and was constructed in 2020 as a build-to-suit for the tenant. The property is secured by an absolute NNN lease with Dolgencorp, LLC, guaranteed by Dollar General Corporation (NYSE: DG), an investment grade tenant rated BBB by S&P.
The lease features a 15-year primary term with approximately 9 years remaining and provides zero landlord responsibilities, making it an ideal passive investment. The lease includes five 5-year renewal options with 10% rental increases in each option period, offering attractive long-term income growth. Dollar General operates more than 20,000 locations nationwide and generates over $40 billion in annual revenue, reinforcing the strength and stability of the tenant. This location ranks among the top-performing stores in the region by visitor traffic and benefits from consistent consumer demand.
The lease features a 15-year primary term with approximately 9 years remaining and provides zero landlord responsibilities, making it an ideal passive investment. The lease includes five 5-year renewal options with 10% rental increases in each option period, offering attractive long-term income growth. Dollar General operates more than 20,000 locations nationwide and generates over $40 billion in annual revenue, reinforcing the strength and stability of the tenant. This location ranks among the top-performing stores in the region by visitor traffic and benefits from consistent consumer demand.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
9,100 SF
Building Class
C
Year Built
2020
Price
$2,376,500 CAD
Price Per SF
$261.15 CAD
Cap Rate
6.05%
NOI
$143,778 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
3.83 AC
Zoning
C - Commercial
Parking
30 Spaces (3.29 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
Somewhat walkable
20/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 30-3N-18-10000-017-0010 | Improvements Assessment | $1,165,873 CAD |
| Land Assessment | $738,491 CAD | Total Assessment | $1,904,364 CAD |
Property Taxes
Parcel Number
30-3N-18-10000-017-0010
Land Assessment
$738,491 CAD
Improvements Assessment
$1,165,873 CAD
Total Assessment
$1,904,364 CAD
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Dollar General | 2115 US Highway 90
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