Absolute NNN Lease | New Dollar General

59 N Sunset Drive, Saint Anne, IL

IN CONTRACT

$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 currently open with rent having commenced on 12/8/2019.

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
Title
Dollar_General_-_IL_-_Saint_Anne.pdf
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Location
Gallery