Absolute NNN Dollar General

Highlights:

• Absolute NNN Lease | Zero Landlord Responsibilities
• 5 (5 Year) Options | 10% Increases At Each Option
• 6 Years Remaining on Primary Term
• 2016 BTS Construction | Concrete Parking Lot
• 4,715 Cars Per Day | Near Signalized Corner
• Three Mile Household Income $61,409
• Ten Mile Population 11,547
• Across From Baymont by Wyndham Hotel
• Investment Grade Dollar Store With "BBB" Credit Rating
• Dollar General Corporate Guaranty | 20,000+ Stores Nationwide

Description:

Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store in Albany, Kentucky. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities and having 5 years left on the primary term. The lease contains 5 (5 year) options to renew, each with a 10% 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 has been successfully opened for business since March 2016.

This Dollar General is highly visible as it is strategically positioned off of KY-90 which sees 4,715 cars per day, across from the Baymont by Wyndham Hotel. The 10 mile population from the site is 11,547 while the 3 mile average household income is $61,409 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 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 small box discount retailer. List price reflects a 8.00% cap rate based on the initial NOI of $73,747.20.

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