OFFERING MEMORANDUM DOLLAR GENERAL SCHUCHERT TAMPA, FLORIDA S RETAIL GROUP SCHUCHERT S RETAIL GROUP EXCLUSIVELY LISTED BY: JIM SCHUCHERT Co-Founder & Managing Partner [email protected] D 424.363.6507 M 310.971.3892 CA License #01969414 JOE SCHUCHERT Co-Founder & Managing Partner [email protected] D 424.363.6508 M 310.971.3116 CA License #01973172 BRIAN BROCKMAN - BANG REALTY-NAPLES, INC. BROKER OF RECORD FL License #BK3327646 SCHUCHERT 2 S RETAIL GROUP DOLLAR GENERAL | TAMPA, FL INVESTMENT SUMMARY PURCHASE PRICE LOCATION $2,133,116 1303 S. 78TH STREET TAMPA, FL 33619 CAP RATE ANNUAL RENT 6.00% $127,986.96 BUILDING SIZE LAND AREA 9,026 SQ. FT. 3.41 ACRES OWNERSHIP LEASE TYPE FEE SIMPLE ABSOLUTE NNN TERM REMAINING LEASE EXPIRATION 9.5 YEARS 08/31/2029 RENEWAL OPTIONS RENT INCREASES 4 - 5 YEAR 10% AT OPTIONS PARKING YEAR BUILT 30 SPACES 2014 APN TRAFFIC COUNTS 045300-0050 22,000 VPD SCHUCHERT 3 S RETAIL GROUP DOLLAR GENERAL | TAMPA, FL INVESTMENT HIGHLIGHTS DOLLAR GENERAL CORPORATE LEASE: LOCATION: ) 9.50 Years of Guaranteed Lease Term ) Traffic Counts of Approximately 22,000 VPD ) 2014 Construction Build-to-Suit Dollar General ) Excellent Synergy with Adjacent AutoZone ) Four (4) - Five (5) Year Option Periods with 10% Rental Increases ) Upgraded Construction Building TAMPA, FLORIDA: ) 3rd Most Populous City in Florida A TRUE COUPON CLIPPER | ABSOLUTE NNN LEASE: ) 3rd Fastest Growing City in Florida ) Absolute NNN Lease with ZERO Management Responsibilities ) Tenant Pays for ALL Operating Expenses, Insurance & Property Taxes PROXIMITY TO: ) Ideal, Management-Free Investment for an Out-of-State, Passive Investor ) 7.9 Miles - University of Tampa (8,310 Students) ) 11.7 Miles - Raymond James Stadium, Home of the Tampa Bay Buccaneers ) 15.6 Miles - Tampa International Airport (21 Million Passengers Annually) TRADE AREA POPULATION GROWTH: ) 1 Mile = 2.10% Projected Annual Growth (2019-2024) ) 3 Mile = 1.90% Projected Annual Growth (2019-2024) ) 5 Mile = 2.00% Projected Annual Growth (2019-2024) TENANT: ) Dollar General (NYSE: DG) Features Investment Grade Credit “BBB” by Standard & Poor’s ) 16,094 Stores in 44 States as of November 1, 2019 ) Dollar General Plans to Undertake Some 2,600 Real Estate Projects in 2020, Including 1,000 New Store Openings (Up From 975 in 2019), 1,500 Mature Store Remodels, and 80 Store Relocations ) Ranked #119 on the Fortune 500 List - Up 4 from Last Year (Dollar General has Moved Up the Fortune 500 Ranking for the 10th Consecutive Year ) Long Term History of Same-Store Sales Growth - 2019 Marked the Company’s 28th Consecutive Year SCHUCHERT 4 S RETAIL GROUP DOLLAR GENERAL | TAMPA, FL HACKBERRY ST 1st ST MAIN ST SEAGUN AVE WALNUT ST MAIN ST MILLS WHARF RD MARINA LN th ST 35 SCHUCHERT 5 S RETAIL GROUP DOLLAR GENERAL | TAMPA, FL JACKSONVILLE, FLORIDA 2019 ESTIMATED POPULATION 199 Miles 1 Mile 10,737 3 Mile 52,049 5 Mile 173,703 2019 AVERAGE HOUSEHOLD INCOME 1 Mile $56,488 3 Mile $62,933 5 Mile $68,652 2019 ESTIMATED TOTAL EMPLOYEES 1 Mile 4,910 3 Mile 41,870 5 Mile 106,870 ORLANDO, FLORIDA 84 Miles FORT MYERS, FLORIDA 127 Miles MIAMI, FLORIDA 272 Miles SCHUCHERT 6 S RETAIL GROUP DOLLAR GENERAL | TAMPA, FL AREA OVERVIEW TAMPA, FLORIDA The City of Tampa is the largest city in Hillsborough County, is the county seat and is the third most populous city in Florida. It is located on the west coast of Florida, approximately 200 miles northwest of Miami, 180 southwest of Jacksonville, and 20 miles northeast of St. Petersburg. The City of Tampa is the 3rd largest city in Florida with a population of 379,551 as of July 1, 2018. The City of Tampa is a diverse city with a diverse economy comprised of a well-established and growing business community that represents retail industrial and emerging technologies. Major features of the economy include the Port of Tampa Bay, Tampa International Airport, the central business district, several professional sports teams, institutions of higher learning, museums and other cultural facilities. The Tampa Bay Area (including Tampa, St. Petersburg and Clearwater) continues to be the home to a diverse set of industries and employers. The Tampa Bay area is home to large company headquarters such as Publix, Raymond James Financial, Jabil, TECO Energy, Sykes Enterprises and Tech Data. The City of Tampa is home to MacDill Air Force Base (AFB) employing approxi- mately 14,500 military and civilian personnel. Tampa is served by three airports (one in Tampa, two in the metro area) that provide significant scheduled passenger air ser- vice: Tampa International Airport, St. Petersburg-Clearwater International Airport, Sarasota–Bradenton International Airport. The Port of Tampa is the largest port in Florida in throughput tonnage, making it one of the busiest commercial ports in North America. Petroleum and phosphate are the lead commodities, accounting for two-thirds of the 37 million tons of total bulk and general cargo handled by the port in 2009. The port is also home to Foreign Trade Zone #79, which assists companies in Tampa Bay and along the I-4 Corridor in importing, exporting, manufacturing, and distribution activities as part of the United States foreign trade zone program. Tampa and its surrounding suburbs is host to over 20 hospitals, four trauma centers, and multiple Cancer treatment centers. Three of the area’s hospitals were ranked among “America’s best hospitals” by US News and World Report. Tampa is also home to many health research institutions. The major hospitals in Tampa include Tampa General Hospital, St. Joseph’s Children’s & Women’s Hospital, James A. Haley Veterans Hospital, H. Lee Moffitt Cancer Center & Research Institute, and The Pepin Heart Institute. Shriners Hospitals for Children is based in Tampa. USF’s Byrd Alzheimer’s Institute is both a prominent research facility and Alzheimer’s patient care center in Tampa. Along with human health care, there are hundreds of animal medical centers including a Humane Society of America. SCHUCHERT 7 S RETAIL GROUP DOLLAR GENERAL | TAMPA, FL POPULATION 1 MILE 3 MILE 5 MILE AREA 2019 Population 10,737 52,049 173,703 DEMOGRAPHICS 2024 Projected Population 11,854 57,109 191,456 2010 Population 10,030 41,305 141,727 Annual Growth Rate: 2019 to 2024 2.10% 1.90% 2.00% HOUSEHOLDS 1 MILE 3 MILE 5 MILE 2019 Households 3,478 19,130 68,416 2024 Households 3,744 20,527 73,555 2010 Households 3,206 14,323 54,024 Annual Growth Rate: 2019 to 2024 1.50% 1.50% 1.50% Average Household Size 3.10 2.50 2.50 INCOME 1 MILE 3 MILE 5 MILE Average Household Income $56,488 $62,933 $68,652 Median Household Income $42,470 $54,125 $58,932 Per Capita Income $18,326 $24,049 $27,377 HOUSING 1 MILE 3 MILE 5 MILE 2019 Housing Units 3,478 19,130 68,416 2019 Owner-Occupied Units 2,463 9,067 33,473 2019 Renter Occupied Housing Units 1,016 10,063 34,943 PLACE OF WORK 1 MILE 3 MILE 5 MILE 2019 Businesses 316 3,241 8,909 2019 Employees 4,910 41,870 106,870 SCHUCHERT 8 S RETAIL GROUP DOLLAR GENERAL | TAMPA, FL TENANT OVERVIEW STOCK CREDIT RATING MARKET CAP FORTUNE 500 YEAR FOUNDED HEADQUARTERS STORES NO. EMPLOYEES NYSE: DG S&P: BBB $40 Billion #119 1939 Goodlettsville, TN 16,094 135,000 IN 44 STATES STORES ABOUT STORES 16,094 AS OF NOV 1, 2019 DISTRIBUTION CENTER Dollar General Corporation has been delivering value to shoppers for 80 years. Dollar General helps shoppers Save time. Save money. Every day!® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at everyday low prices 1 in convenient neighborhood locations. Dollar General operated 16,094 stores in 44 wa nh 35 me states as of November 1, 2019. In addition to high-quality private brands, Dollar General mt nd 26 vt 36 55 sells products from America’s most-trusted manufacturers such as Clorox, Energizer, or 52 mn 45 ma Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg’s, 134 wi id sd 52 189 mi ny 461 General Mills, and PepsiCo. wy 511 15 ri ia 56 ct nv ne 123 236 pa 715 ca il oh 792 132 nj 22 ut in 216 co 544 11 520 wv 45 de 47 mo 242 ks 235 va 418 137 md 518 ky 524 nc 814 az tn 772 ok 440 ar sc 156 nm 430 541 99 ms al ga 510 757 855 tX la 1,474 559 fl 849 SCHUCHERT 9 S RETAIL GROUP DOLLAR GENERAL | TAMPA, FL CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum is confidential and is furnished to prospective purchasers of the Dollar General located at 1303 S. 78th St., Tampa, FL 33619 (“Property”). This Offering Memorandum is intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. The information and materials contained herein are selective and limited in nature, and neither Owner or Schuchert Retail Group purports this to be an all-inclusive report on the Property. This Offering Memorandum contains select information pertaining to the Property and does not purport to be all-inclusive or contain all or part of the information which prospective purchasers may require to evaluation a purchase of the Property. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable. However, Schuchert Retail Group has not and will not verify any of this information, nor has Schuchert Retail Group conducted any investigation regarding these matters.