Absolute NNN Lease | New Dollar General

59 N Sunset Drive, Saint Anne, IL

$1,509,141

Price

6.4%

Cap Rate

$96,585

NOI

Overview
Cap Rate
6.4%
NOI
$96,585
Building Size
9,100 sqft
Lot Area
1.53 acres
Lease Type
Absolute Net
Year Built
2019
Price Per Sqft
$165.84
Zoning
Commercial
Description

Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in St. Anne, Illinois. 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 completing construction with rent commencing in November 2019.

This Dollar General is highly visible as it is strategically positioned on the hard corner of N Sunset Drive and State Route 17 which sees 11,741 cars per day. The ten mile population from the site is 88,130 while the three mile average household income is $72,025 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 6.4% cap rate based on NOI of $96,585.

Highlights
  • Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
  • Located on Hard Corner
  • 4 (5 Year) Options | 10% Rental Increase At Each Option
  • Three Mile Household Income $72,025
  • Ten Mile Population 88,130
  • 11,741 Cars Per Day on State Route 17
  • Investment Grade Dollar Store with "BBB" Credit Rating
  • DG Reported 31 Consecutive Quarter of Same Store Sales Growth
Documents

Location
Gallery