Dollar General – Kernersville, NC
Fortis Net Lease is pleased to present this 9,100 SF Dollar General Upgraded store located in Kernersville, NC. 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 currently under construction with rent commencing in July 2019.
This Dollar General is highly visible as it is strategically positioned on the corner of Crosscreek Road and W Market Street having 13,000 cars per day. The 5 mile population from the site exceeds 43,800 while the one mile average household income exceeds $104,557 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 6.25% cap rate based on NOI of $116.076.
• Brand New Absolute NNN Lease | Zero Landlord Responsibilities
• 15 Year Term / Four (5 Year Options)
• Investment Grade Dollar Store
• One Mile Household Income $104,557
• Five Mile Population Exceeds 43,800
• 1 Mile Growth Rate 10.79%
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth
• Only 9 Miles from Piedmont Triad International Airport
• 14 Miles from Winston-Salem, NC
Instate Broker of Record: James Wilson | Pulliam Properties, Inc | License #C3903