Overview

Description

Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General Plus store located in Decatur, Mississippi. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5 (5 year) options 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 completed construction & successfully opened for business in September 2023.

This Dollar General is highly visible as it is strategically positioned on MS-15 which sees 7,866 cars per day and is the main thoroughfare. The store sits only 0.4 Miles to East Central Community College - ranked 1st among the state’s 15 community colleges in headcount growth! It is adjacent to a Valero gas station & across from a Family Dollar store. The 10 mile population from the site is 15,563 with the 3 mile average household income is $58,894 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 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 6.85% cap rate based on NOI of $137,057.76.

Highlights

• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2023 BTS Plus Size Construction | Opened in September 2023
• Walking Distance (0.4 Miles) to East Central Community College | Ranked 1st in the state’s 15 Community Colleges in Headcount Growth!
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $58,894
• Ten Mile Population 15,563
• 7,866 VPD on MS-15 | Main Thoroughfare
• Adjacent to Valero Gas Station | Across from Family Dollar
• Investment Grade Dollar Store With "BBB" Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth

Documents

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