DG – South Bend, IN
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in South Bend, IN. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Five (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 anticipated to commence on 2/1/2018.
This Dollar General will be highly visible as it is strategically positioned on State Route 2, in South Bend, IN. The five mile population from the site exceeds 47,000, while the one mile median household income exceeds $58,011 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 brand new 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 6.40% cap rate based on NOI of $99,336.
• Brand New Absolute NNN Lease
• Zero Landlord Responsibilities
• 15 Year Term | Five (5 Year) Options
• One Mile Household Income $58,011
• Five Mile Population Exceeds 47,000
• Only Investment Grade Dollar Store
• 19,735 Cars Per Day on Route 2