DG – Peabody, KS
Fortis Net Lease is pleased to present this 7,489 SF Dollar General store located in Peabody, KS. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The Lease contains a 3% bump in year of 11 of the term. 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 is scheduled to commence on 6/23/2017.
This Dollar General will highly visible and is strategically positioned in Peabody, KS. The five mile population from the site exceeds 1,700 while the one mile median household income exceeds $48,000 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 6.85% cap rate based on NOI of $74,712. Kansas broker of record, Adam Blue, Area Real Estate Advisors.
• Brand New Absolute NNN Lease
• 3% Bump in Year 11
• Zero Landlord Responsibilities
• 15 Year Term | Four (5 Year) Options
• One Mile Household Income $48,214
• Five Mile Population Exceeds 1,726
• Highly Visible From US Highway 50
• Only Investment Grade Dollar Store