DG – Iron Station, NC
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Iron Station, NC. 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 under construction with rent scheduled to commence on 10/31/2017.
This Dollar General Is highly visible and as it is strategically positioned in Iron Station,NC. The five mile population from the site exceeds 17,500 while the two mile median household income exceeds $63,000 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 6.40% cap rate based on NOI of $94,826.04. NC Broker of Record, James M Wilson, Pulliam Properties.
• Brand New Absolute NNN Lease
• 15 Year Term | Four (5 Year) Options
• Two Mile Household Income $63,2811
• Five Mile Population Exceeds 17,500
• Site Benefits From 13,333 Cars Per Day
• Only Investment Grade Dollar Store
• 4.24% Growth in 5 Years Within 2 Miles