Overview

Description

Fortis Net Lease is pleased to present this new 10,566 SF. Dollar General Plus store with an upgraded architectural design located in Camby, Indiana - part of the Indianapolis Market and only 6 miles from the Indianapolis International Airport. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is currently under construction with a projected rent start date in August 2024.

This Dollar General is highly visible as it is strategically positioned just off of the signalized intersection of Kentucky Avenue (seeing 33,884 cars per day) on the corner of Camby Crossing Drive & Camby Road (seeing 5,405 cars per day). It is adjacent to a shopping center with tenants such as Dunkin Donuts, Papa John's Pizza, Big Red Liquors and more. Across the street is a Circle K and residential homes surround the site. The 5 mile population from the site is 61,649 while the 1 mile average household income is $80,262 per year, making this location ideal for a Dollar General. This area is seeing a steady increase in population growth. 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 dollar store. List price reflects a 6.50% cap rate based on NOI of $144,479.40.

Highlights

• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• RARE 5% RENT BUMPS EVERY 5 YEARS!
• Indianapolis Market! | 6 Miles to Indianapolis International Airport
• 2024 BTS Plus Size Construction | Upgraded Architectural Design
• 5 (5 Year) Options | 5% Increases At Each Option
• One Mile Household Income $80,262
• Five Mile Population 61,649 | Expected 3.06% Growth
• 39,289 VPD at Signalized Intersection Of Kentucky Avenue & Camby Road
• Adjacent to Shopping Center (Dunkin', Papa John's Pizza) | Across from Circle K
• Investment Grade Dollar Store With "BBB" Credit Rating

Documents

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