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.