Overview

Description

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Corporate Guaranteed (NYSE: DG | S&P:BBB), freestanding, Dollar General investment property located in South Mills, North Carolina. The tenant, Dolgencorp, LLC recently signed a brand new 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The property is located along U.S. Highway 17, which averages 20,700 vehicles passing by daily and is a major commuter thoroughfare serving the city of South Mills. The Dollar General benefits from excellent visibility and access via significant street frontage along U.S. Highway 17, providing ease and convenience for customers. The newly constructed store features state-of-the-art materials, high-level finishes, and distinct Dollar General design elements. This location is Dollar General’s newest prototype and has significant design upgrades. The asset benefits from limited competition as there is only one other discount store serving the immediate trade area. Dollar General Stores is an American chain of variety stores that has become one of the most profitable stores in the rural United States with revenue reaching $34.22 billion. The company has opened 1,050 new stores across the U.S. in 2023, expanding its presence to 47 states throughout the country. The 10-mile trade area is supported by a population of over 17,700 with an affluent average household income of $102,608.

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