Investment Highlights
- Corporate Guaranteed, Absolute Triple Net (NNN) Lease With Zero Landlord Responsibilities
- Four, Five-Year Tenant Renewal Options With 10 Percent Rent Increases Every Five Years
- Dollar General is a NYSE Rated Company: BBB Credit – Considered to be Investment Grade Rating
- As of March 2023, the Company Operates More Than 19,000 Stores Across 47 States
- Centrally Located Between Jacksonville (26 Miles NW), Gainesville (49 Miles South) and St. Augustine (46 Miles East)
- Within Walking Distance from Wilkinson Elementary School & Wilkinson Jr. High School – Combined Serve More Than 1,400 Students
- Nine Miles from Ascension St. Vincent’s Clay County Hospital, With 134 Staffed Beds and 129 Doctors
- 26 Miles from Downtown Jacksonville, the Most Populous City in the State
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Dollar General located in Middleburg, Florida in the Jacksonville metro. This Dollar General offers a long-term, corporate guaranteed, absolute triple net (NNN) lease with zero landlord responsibilities. The lease offers four, five-year tenant renewal options with 10 percent rent increases every five years in the options.
Dollar General has been an industry leader for over 80 years with a BBB investment grade credit rating. Dollar General is on the NYSE with the symbol DG. As of March 2023, the company operates more than 19,000 stores across 47 states.
Middleburg, FL is located in Clay County and is part of the Jacksonville metro area. It is the fourth largest metro in Florida, home to more than 1.5 million people. The Subject Property is 26 miles from Jacksonville, the most populous city in the state, also 49 miles from Gainesville and 46 miles from St. Augustine.
The average household income in is $72,991 in one mile of the Property and $78,806 in five miles. The Property is located between State Road 21 and US Highway 301, which connects the area South to Gainesville and 20 miles North to Georgia. This Dollar General is within walking distance from Wilkinson Elementary School and Wilkinson Jr. High School, which combined serve more than 1,400 students.
The area is made up of several hospitals and schools, providing employment for thousands of residents. Jacksonville also has a very strong military presence and is home to Naval Air Station Jacksonville, Mayport Naval Station, and Kings Bay Naval Base. The Subject Property is 12 Miles from Camp Blanding Joint Training Center in Starke, FL, which is the main training site for most of the Florida National Guard’s military units and the combat brigade and special forces. Also, 23 miles from Naval Air Station Jacksonville which has a population of 10,493 total active duty, 34,000 family, 8,370 federal employees and more. Naval Air Station Jacksonville is the largest naval base in the southeast region and third in the nation.
