College Town Dollar General | Recently Extended

Highlights:

• 15 Year Absolute NNN Lease | 8.25 Years Remaining on Primary Term
• Zero Landlord Responsibilities
• Recently Extended Term | Proven Commitment & Success in the Market!
• Ranks 2nd in a 15 Mile Radius for Foot Traffic (2/10)
• Performs in the Top 25% of all Dollar General Stores Nationwide!
• 0.7 Miles from the State University of New York Plattsburgh Campus
• Seeing 11,555 Cars Per Day
• 2013 BTS Construction | Upgraded Architectural Style
• 4 (5 Year) Options | 5% Increases At Each Option
• 1 Mile Household Income $53,974
• 5 Mile Population 29,804
• Investment Grade Dollar Store With "BBB" Credit Rating
• Dollar General Corporate Guaranty

Description:

Fortis Net Lease is pleased to present this 9,026 SF. COLLEGE TOWN Dollar General store located in Plattsburgh, New York. The property is secured with an Absolute NNN Lease leaving zero landlord responsibilities. Dollar General recently extended the term leaving 8.25 years remaining and proving their commitment & success in this market! The lease contains 5% rental rate increases at each of the 4 (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 has been open & successfully operating since September 2013. It ranks as the 2nd most foot trafficked store within a 15 mile radius (2/10) & performs in the top 25% of all DG stores Nationwide!

This Dollar General is highly visible as it is strategically positioned on S Catherine Street seeing 11,555 cars per day. The 5 mile population from the site is 29,804 and the 1 mile average household income is $53,974 per year, making this location ideal for a Dollar General. The store is surrounded by residential homes and 0.7 miles from the State University of New York Plattsburgh campus (4,500 students & 900 staff)! 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 7.15% cap rate based on NOI of $119,754.

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