DG – Sandston, VA
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Sandston, VA. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (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 open, with rent having commenced on 3/31/2015.
This Dollar General is highly visible as it is strategically positioned on E Williamsburg Rd. The five mile population from the site is 63,794 while the one mile average household income $62,794 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 6.15% cap rate based on NOI of $95,003.
• Brand New Absolute NNN Lease
• Zero Landlord Responsibilities
• 15 Year Term / 5 (5 Year) Options
• One Mile Household Income $62,794
• Five Mile Population 63,794
• Five Mile Growth 2018-2023 Increases 3.75%
• Investment Grade Dollar Store
• Dollar General Reported 28 Consecutive Quarter of Same Store Sales Growth
*Instate Broker of Record: Joseph P Whittle, Jr | Whittle & Roper Inc., Realtors | License #: 225069103