Established Dollar General With Rent Bumps!

Highlights:

• 15 Year Absolute NNN Lease | 6.5 Years Remaining on Primary Term
• Zero Landlord Responsibilities
• Concrete Parking Lot
• Corner Site | Seeing 2,746 Cars Per Day
• 3% Rental Rate Increase at Year 11
• 4 (5 Year) Options | 10% Increases At Each Option
• 3 Mile Household Income $54,631
• 10 Mile Population 1,787
• Limited Competition Area | Next Dollar Store 18+ Miles Away
• Investment Grade Dollar Store With "BBB" Credit Rating
• Dollar General Corporate Guaranty

Description:

Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Howard, South Dakota. The property is secured with an Absolute NNN Lease leaving zero landlord responsibilities, with 6.5 years remaining on the primary term. The lease contains a 3% rental rate increases at year 11 and 10% increases at each of the 4 (5 year) options to renew. 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 open & successfully operating since September 2017.

This Dollar General is highly visible as it is strategically positioned on the corner of 435th Avenue & 233rd Street seeing 2,746 cars per day. The 10 mile population from the site is 1,787 and the 3 mile average household income is $54,631 per year, making this location ideal for a Dollar General. The store is the only dollar store serving the community with no competition within 18 miles! 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 dollar store. List price reflects a 7.35% cap rate based on NOI of $79,128.

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