Dollar General – Bloomingdale, GA

$1,666,363.00
Price
$109,980.00
Noi
6.6%
Cap Rate
9,100
Leasable Area
2019
Year Built

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Bloomingdale, GA. The property is encumbered with a fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. 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 currently under construction with rent commencing in May 2019.

This Dollar General is highly visible as it is strategically positioned on Fort Argyle Road having 3,050 cars per day. The 10 mile population from the site exceeds 73,000 while the three mile  average household income exceeds $109,700 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 6.60% cap rate based on NOI of $109,980.

INVESTMENT HIGHLIGHTS
• Brand New Absolute NNN Lease
• Zero Landlord Responsibilities
• 15 Year Term / Four (5 Year Options)
• Investment Grade Dollar Store
• Three Mile Household Income $109,761
• Ten Mile Population Exceeds 73,000
• Dollar General Reported 28 Consecutive Quarter of Same Store Sales Growth
• Five Mile Growth Rate 6.46%
• Only 18.5 Miles from Downtown Savannah, GA
• 5 Miles from New Hampstead High School With 1,400 Students

 

Instate Broker of Record: Steve Miller | Miller Realty Services | License # 11102