DG – Ellendale, ND
Fortis Net Lease is pleased to present this 9,026 SF Dollar General store located in Ellendale, ND. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The Lease contains a 3% bump in year of 11 of the term. The lease contains Four (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 open with rent having commenced on 2/20/2017.
This Dollar General is highly visible and is strategically positioned in Ellendale, ND. The ten mile population from the site exceeds 1,800 while the one mile median household income exceeds $42,500 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 7.00% cap rate based on NOI of $79,656.
• Brand New Absolute NNN Lease
• Rare 3% Bump in Year 11
• Zero Landlord Responsibilities
• 15 Year Term | Four (5 Year) Options
• One Mile Household Income $42,682
• Ten Mile Population Exceeds 1,800
• Only Investment Grade Dollar Store