3407 Mahogany Dr - Convenience Store FOR SALE


Pace, FL 32571
$3,038,800 USD
734-755-6359
3407 Mahogany Dr, Pace, FL for Sale
$3,038,800 USD
Convenience Store - FOR SALE
1/5
null | 6% Cap Rate

3407 Mahogany Dr
Pace, FL 32571


HIGHLIGHTS

  • Brand New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities.
  • Pensacola Market | HUGE DEVELOPMENT AREA!
  • 2025 BTS Plus Size & Upgraded Construction.
  • Corner Location | 12,000 Cars Per Day.
  • 5% Rental Rate Increases Every 5 Years! | 5 (5 Year) Options | 5% Increases At Each Option.

OVERVIEW

Fortis Net Lease is pleased to present this 2025 BTS 10,640 SF. Dollar General Plus store located in Pace, Florida - Part of the Pensacola Market & in a huge development area. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years including at each of the 5 (5 year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is under construction with store opening & rent start on track for November 2025. This Dollar General is highly visible as it is strategically positioned on the corner of Mahogany Drive & Chumuckla Highway which sees 12,000 cars per day. It is situated across from a new development 40 acre Church & preschool. The 5 mile population from the site is 22,818 and the 3 mile average household income is $130,401 per year, making this location ideal for a Dollar General. This is a huge growth area with the 5 mile population growth rate at 14.79%! The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 6.00% cap rate based on NOI of $182,328

FOR SALE DETAILS

PRICE

$3,038,800 USD

PRICE/SF

$286 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.93 AC

LAND SF

84,071 SF

ZONING

C-2

APN/PARCEL ID

17-2N-29-0000-00501-0000

ASK ABOUT THIS PROPERTY

Bryan BenderFortis Net LeaseMore Info
734-755-6359

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Bryan BenderFortis Net LeaseMore Info
734-755-6359

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.