Investment Highlights
- 10-Year NN, Corporate Lease with Seven Years Remaining on Base Term
- 10 Percent Rent Increases Every Five Years Throughout the Base Term and Option Periods
- Dollar General has Been Operating at this Location Since 2001 Showing a Strong Commitment to the Site
- Located on Newberry Road with a Daily Traffic Count of 20,000 Vehicles
- 17 Miles West of Gainesville Which is Home to the University of Florida, the State’s Largest and Oldest University
- Gainesville is One of the State’s Centers of Education, Medicine, Cultural Events and Athletics
- The University of Florida and Shands Hospital at UF are the Leading Employers in Gainesville and Provide Jobs for Many Residents of Surrounding Counties
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Dollar General in Newberry, Florida. This Dollar General has a 10-year, double net, corporate guaranteed lease with seven years remaining on the base term. The lease offers three, five-year options to extend. There are 10 percent rent increases every five years throughout the base term and option periods. Dollar General has proved to have a very strong commitment to this site, as the tenant has operating here since for almost 20 years.
The subject property Is located on Newberry Road which has a daily traffic count of more than of 20,000 vehicles. Newberry, Florida is 17 miles west of Gainesville and is part of the Gainesville MSA. Gainesville is home to the University of Florida, which is the state’s largest and oldest university.
The University of Florida, along with Shands Hospital at UF, are the leading employers in the Gainesville area and provide jobs for many residents of surrounding counties. Gainesville is one of the state’s centers of education, medicine, cultural events and athletics.
