DG – Lucas, OH
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Lucas, OH. 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 rent commenced on 6/26/2016.
This Dollar General is highly visible and it is strategically positioned on Main St in Lucas. The ten mile population from the site exceeds 97,000 while the three mile median household income exceeds $52,000 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 6.60% cap rate based on NOI of $84,204. Broker of record, Michael Fennessy, Dietz Commercial.
• Brand New Absolute NNN Lease
• Zero Landlord Responsibilities
• 15 Year Term | Four (5 Year) Options
• Three Mile Household Income $52,097
• Ten Mile Population Exceeds 97,000
• 14 Years Left on Term
• Only Investment Grade Dollar Store