DG – Hermitage, MO
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Hermitage, MO. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving Zero landlord responsibilities. 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 10/27/2017.
This Dollar General is highly visible as it is strategically positioned in Hermitage. The ten mile population from the site exceeds 8,000, while the three mile average household income exceeds $30,700 per year, making this location perfect 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 $86,381.
• New Absolute NNN Lease
• Zero Landlord Responsibilities
• Popular Tourist Destination
• 15 Year Term | Four (5 Year) Options
• Three Mile Household Income $30,735
• Ten Mile Population Exceeds 8,200
• Dollar General Reported 28 Consecutive Quarter of Same Store Sales Growth
Instate Broker of Record: Adam Blue | Area Real Estate Advisors | License #: 2002027677