Net Leased Dollar General Sold

The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Dollar General located at 4904 US-17 92 W in Haines City, Florida for $2,585,372.

The 9,100 square foot property was constructed in 2020 and is strategically positioned on US-17 92 W, which has a traffic count exceeding 20,000 VPD. Additionally, the property benefits from its location within 60 miles of Tampa, Orlando, and Lakeland. Dollar General is adjacent to the brand-new Polk County Northeast Government Center and the Polk County DMV. It is also located across the street from the Sweetwater Retirement Community, which contains over 460 homes. There are over 175,000 people living within ten miles of the property.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The seller is a Florida based partnership and the buyer is a private 1031 exchange investor from Florida.

There are over eleven years remaining on the Dollar General absolute net lease. The lease features 10% rental escalations in each of the four 5-year renewal option periods. Dollar General is an investment-grade rated company with a Standard & Poor’s rating of BBB. Dollar General operates nearly 20,000 stores in 48 states.

“Properties with long-term leases to investment grade tenants in income tax-free states remain the most desirable net lease product” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman of The Boulder Group, added, “The market for recently constructed net leased dollar stores remains active as they offer a stable investment at attractive yields.”

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