Dollar General – Shiloh, NC
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Shiloh, North Carolina. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 now open with rent having commenced 3/22/2019.
This Dollar General is highly visible as it is strategically positioned on NC Hwy 343 South which has 2,300 cars per day. The ten mile population from the site is 35,908 while the three mile average household income is $77,440 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 6.4% cap rate based on NOI of $84,012.
• Absolute NNN Lease | Zero Landlord Responsibilities
• Brand New Construction
• 15 Year Term / 4 (5 Year) Options
• Three Mile Household Income $77,440
• Ten Mile Population 35,908
• 2,300 Cars Per Day on NC Hwy 343 South
• Investment Grade Dollar Store with “BBB” Credit Rating
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth
• Three Mile Growth Rate 4.7%
• 13+ schools within a 10 mile radius
Instate Broker of Record: James Wilson | Pulliam Properties, Inc. | License #C3903