Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Grampian, Pennsylvania. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 2 (5) Yr. Options and 1 (4) Yr. and (11) Month Option to renew, each with a 10% rental rate increase. 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 open, with rent having commenced on June 13, 2018.
This Dollar General is highly visible as it is strategically positioned on First Street which sees 3,181 cars per day. The ten mile population from the site is 19,089 while the three mile average household income is $61,847 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a 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 6.75% cap rate based on NOI of $99,975.