NNN Dollar General Crystal River
Retail | 4.27% CAP | 9,177 SqFt
Marketing description
This offering consists of a fee simple, single-tenant Absolute NNN Dollar General property located in Crystal River, Florida. The asset is corporately leased to Dollar General Corp. (NYSE: DG), an investment-grade tenant with an S&P credit rating of BBB. The lease commenced in 2013 and includes approximately two years remaining on the primary term, four 5-year renewal options, and 10% rental increases every five years, providing built-in long-term income growth. The building was constructed within the past 15 years and requires no landlord responsibilities under the Absolute NNN lease structure.
The property sits on an expansive 3.06-acre parcel, significantly larger than a typical Dollar General site. The oversized lot offers future development or expansion potential, with a large underutilized area behind the building suitable for additional retail or complementary uses, subject to zoning approvals. The site benefits from strong frontage, signage, and ample parking, enhancing long-term flexibility and investor optionality.
Crystal River is a growing Gulf Coast market benefiting from steady in-migration and improving fundamentals. The city has experienced over 15% population growth during the past decade and is supported by average household incomes of approximately $52,000, aligning well with Dollar General’s necessity-based retail model. Limited new supply and consistent demand for essential retail reinforce the long-term strength of the location.
Investment highlights
Absolute NNN Lease with Investment-Grade Tenant
Fee simple, single-tenant Absolute NNN investment with zero landlord responsibilities, corporately leased to Dollar General Corp. (NYSE: DG), an investment-grade tenant with a BBB credit rating.
Lease Structure with Built-In Rent Growth
Lease commenced in 2013 with approximately two years remaining on the primary term, four 5-year renewal options, and 10% rent increases every five years, providing long-term income growth and inflation protection.
National, Recession-Resistant Retailer
Founded in 1939, Dollar General operates more than 19,000 stores nationwide and is a leading provider of essential goods in underserved and rural markets, generating over $38 billion in annual revenue.
Oversized 3.06-Acre Parcel with Future Upside
Situated on a 3.06-acre site, significantly larger than a typical Dollar General parcel, offering rare future development or expansion potential with a large underutilized portion of land behind the existing building.
Growing Market with Strong Local Fundamentals
Located in Crystal River, Florida, a Gulf Coast market that has experienced over 15% population growth during the past decade, supported by average household incomes of approximately $52,000 and steady demand for necessity-based retail.
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