DG – Portland, AR
Fortis Net Lease is pleased to present this 7,500 SF Dollar General store located in Portland, AR. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The parking lot is full concrete. 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 in December 2018.
This Dollar General is highly visible and is strategically positioned in Portland. The five mile population from the site exceeds 3,000 while the two mile median household income exceeds $74,000 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 7.00% cap rate based on NOI of $78,201.
• Brand New Absolute NNN Lease | Zero Landlord Responsibilities
• 15 Year Term | Four (5 Year) Options
• Two Mile Household Income $74,035
• Five Mile Population Exceeds 3,000
• Only Dollar Store in the Community
• Dollar General announced 28th Straight Quarter of Same Store Sales Growth
Instate Broker of Record: Jessica Flake Dearnley | Flake & Kelley Northwest | License #: PB00069947