830 27th Ave - Convenience Store FOR SALE


Vero Beach, FL 32968
$2,000,000 USD
734-755-6359
830 27th Ave, Vero Beach, FL for Sale
$2,000,000 USD
Convenience Store - FOR SALE
1/5
null | 6.8% Cap Rate

830 27th Ave
Vero Beach, FL 32968


HIGHLIGHTS

  • Absolute NNN Lease | Zero Landlord Responsibilities.
  • 13,200 Cars Per Day | Near Signalized Corner.
  • Five Mile Population 93,769 | Expected 13.29% Growth.
  • 5 Mile Consumers Spending $1.2 Billion!
  • Dollar General Corporate Guaranty | 20,500+ Stores Nationwide
  • One Mile Household Income $76,871

OVERVIEW

Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store with an upgraded exterior design located in Vero Beach, Florida. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities and having 4 years left on the primary term. The lease contains 4 (5 year) options to renew, each with a 10% increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has been successfully opened for business since June 2014. This Dollar General is highly visible as it is strategically positioned off of 27th Avenue SW which sees 13,200 cars per day, just north of the signalized intersection at Oslo Road seeing 20,500 cars per day. The 5 mile population from the site is 93,769 while the 1 mile average household income is $76,871 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the 5 mile population growth rate at 13.29%. 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 small box discount retailer. List price reflects a 6.80% cap rate based on the initial NOI of $135,900.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$222 USD /SF

CAP RATE

6.8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

69

LAND DETAILS

LAND ACRES

1.44 AC

LAND SF

62,726 SF

ZONING

CL

APN/PARCEL ID

33-39-23-00017-0000-00002.0

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.