DG – Mayville, ND
Fortis Net Lease is pleased to present this 9,026 SF Dollar General store located in Mayville, ND. 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 commences 3/13/2017.
This Dollar General will be highly visible and is strategically positioned in Mayville, ND. The Five mile population from the site exceeds 2,800 while the Three mile average household income exceeds $48,500 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 $83,844.
Brand New Absolute NNN Lease
15 Year Term | Four (5 Year) Options
Three Mile Income Exceeds $48,500
Five Mile Population Exceeds 2,800
Site Benefits From 3,378 Cars Per Day
Only Investment Grade Dollar Store