2216 18th Ave S 9,002 SF Retail Building Saint Petersburg, FL 33712 $3,789,068 CAD ($420.91 CAD/SF) 6.15% Cap Rate

Marcus & Millichap is pleased to present for sale this corporate Dollar General store located at 2216 18th Avenue S in Saint Petersburg, Florida. This freestanding, single tenant property sits on an oversized 1.45-acre (63,162 SF) parcel and was originally built in 2011. The investment is structured as an Absolute NNN lease with zero landlord responsibilities, backed by a full corporate guarantee from Dollar General Corporation (NYSE: DG), one of the most recognized and creditworthy tenants in the net lease marketplace.
The lease carries approximately five years of term remaining through August 2026, with Dollar General having already exercised its first 5-year renewal option extending occupancy through August 31, 2031, a clear signal of the tenant’s long term commitment to this location. The lease structure includes 10 percent rental increases every five years and four additional 5-year options beyond the exercised term, providing a long runway of structured rent growth and income visibility well into the future.
From a demographic standpoint, the subject property benefits from an exceptionally strong trade area. Saint Petersburg is the fifth most populous city in Florida and a primary submarket of the Tampa Bay MSA, home to over 3.29 million people. Within a 5-mile radius, the population exceeds 217,997 with a median household income of $75,628, projected to climb 17.1% over the next five years. The site is surrounded by several large apartment communities including 1701 Central, Arte, Vantage St. Pete, Camden Central, and The Exchange, providing a dense and built-in residential customer base. Colleges and universities nearby, including St. Petersburg College (23,350 students), USF St. Petersburg (4,000 students), and Eckerd College, further support consistent daytime and evening traffic.
The broader economic fabric of Saint Petersburg is anchored by major employers including Raymond James, Publix Supermarkets, Jabil, Bayfront Medical, Spectrum, and Fidelity National Information Services, institutions that drive household income stability and sustained consumer spending throughout the trade area. Dollar General’s everyday essentials model is tailor-made for this type of densely populated, income diverse urban corridor, and the tenant’s 7-year operating history at this location reflects the store’s proven demand.
Dollar General Corporation operates over 20,474 locations across 48 states and Mexico, built on a recession-resilient model of affordable, convenient retail in high frequency shopping categories. For the investor, this offering delivers the core attributes of best-in-class NNN ownership: passive income, institutional credit, structured rent growth, and a well-located asset in one of Florida’s most dynamic metro markets.