Dollar General | Hard Signalized Corner | Absolute NNN 15 Year Lease

Houston Road, Macon, GA

$1,754,834

Price

6.35%

Cap Rate

$111,432

NOI

Overview
Cap Rate
6.35%
NOI
$111,432
Building Size
9,100 sqft
Lot Area
1.95 acres
Lease Type
Absolute Net
Year Built
2019
Price Per Sqft
$192.84
Zoning
Commercial
Description

Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Macon, Georgia. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (5) Yr. 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 is currently under construction, with rent commencing in February 2020.

This Dollar General is highly visible as it is strategically positioned on the hard corner of Houston Road (which sees 8,423) and Sardis Church Road (which sees 3,184 cars per day). It is easily accessible by either road as there are two points of ingress and egress. The five mile population from the site is 23,870 while the one mile average household income is $67,343 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 6.35% cap rate based on NOI of $111,432.00.

Highlights
  • Atlanta Market
  • Hard Corner Location | Two Points of Ingress and Egress
  • Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
  • Brand New, All Brick, Upgraded Construction
  • 4 (5 Year) Options | 10% Rental Increase At Each Option
  • One Mile Household Income $67,343
  • Five Mile Population 23,870
  • 8,423 Cars Per Day on Houston Road
  • 3,184 Cars Per Day on Sardis Church Road
  • Investment Grade Dollar Store with "BBB" Credit Rating
  • DG Reported 31 Consecutive Quarter of Same Store Sales Growth
Documents

Location
Gallery