Investment Highlights
- Double Net (NN), Corporate Guaranteed Lease
- Tenant Recently Signed a Six-Year Extension to the Lease Which will Commence on June 1, 2022
- Tenant Handles the Payment of Marking Lot Maintenance
- Tenant Shall Continue to be Responsible for Reimbursement of Real Estate Taxes, Pursuant to the Current Terms of the Lease
- Three, Five-Year Renewal Options with 9.5 Percent Rent Increases Every Five Years Throughout the Option Periods
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Dollar General located in Minneola, Florida with a double net, corporate guaranteed lease. The lease features three, five-year renewal options with 9.5 percent rent increases every five years throughout the option periods. The tenant recently signed a six-year extension to the lease, which will commence on June 1, 2022.
The tenant handles the payment of marking lot maintenance and shall continue to be responsible for reimbursement of Real Estate Taxes, pursuant to the current terms of the lease.
This Dollar General is located off U.S. Highway 27, with a daily traffic count of 35,000 vehicles. The subject property is 23 miles west of Orlando. Surrounding national retailers in the immediate area include Walgreens, Advance Auto Parts, Dollar Tree, McDonald’s, Dunkin’ Donuts and others. Minneola is part of the Orlando Metro Area, which is one of the largest and fastest growing area in the state with a population of more than 2.4 million residents. The Orlando Metro is expected to add nearly 248,000 people over the next five years.
