Dollar General – Garfield, GA

$1,238,577
Price
$83,604.00
Noi
6.75%
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 Garfield, GA. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (5 Year) 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 July 2019.

This Dollar General is highly visible as it is strategically positioned at the corner of Georgia Hwy 23 and Hall St. The ten mile population from the site exceeds 6,500, while the three mile average household income exceeds $61,500 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 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 6.75% cap rate based on NOI of $83,604.

INVESTMENT HIGHLIGHTS
• Brand New Absolute NNN Lease | Zero Landlord Responsibilities
• Corner Location
• 15 Year Term | Five (5 Year) Options
• Three Mile Household Income $61,950
• Ten Mile Population Exceeds 6,836
• Investment Grade Dollar Store
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth

 

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