DG – West Salem, OH
Fortis Net Lease is pleased to present this 10,640 SF Dollar General store located in West Salem, OH. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The store is a Relocation store, proving the success of the local market. 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 open with rent having commenced on 7/18/2017.
This Dollar General is highly visible and is strategically positioned in West Salem, OH. The five mile population from the site exceeds 9,000 while the one mile median household income exceeds $43,500 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 6.30% cap rate based on NOI of $105,774.
• Brand New Absolute NNN Lease
• Relocation PLUS Store
• Zero Landlord Responsibilities
• 15 Year Term | Four (5 Year) Options
• One Mile Household Income $43,766
• Five Mile Population Exceeds 9,000
• Only Investment Grade Dollar Store