DG – Mt Sterling, KY
Fortis Net Lease is pleased to present this 8,625 SF Dollar General store located in Mt Sterling, KY. The property is encumbered with NN Lease with 8 years remaining, leaving limited landlord responsibilities. Dollar General recently extended the lease, showing their commitment to the site. 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 10/1/1999.
This Dollar General is highly visible as it is strategically positioned in Mt Sterling, KY. The five mile population from the site exceeds 21,000, while the two mile average household income exceeds $50,000 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 8.00% cap rate based on NOI of $51,519.
• Extended Term NN Lease
• Limited Landlord Responsibilities
• 8 Years Remaining on Term
• Currently in Second Lease Extension
• Two Mile Household Income $50,336
• Five Mile Population Exceeds 21,000
• 5.30% One Mile Population Growth Expected; 65116
Instate Broker of Record: Peter D. Barr | Block + Lot Real Estate, LLC | License #65116