Dollar General – Wagner, SD
Fortis Net Lease is pleased to present this 7,489 SF. Dollar General store located in Wagner, SD. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains a 3% rental rate increase in year 11 and also 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 currently open with rent having commenced in June 2018.
This Dollar General is highly visible as it is strategically positioned on the signalized corner of Main Ave S & 297th Street (SD-46) which sees 3,680 cars per day. The five mile population from the site is 2,475 while the one mile average household income is $48,789 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 6.6% cap rate based on NOI of $87,996.
• Brand New Absolute NNN Lease | Zero Landlord Responsibilities
• 15 Year Term / 4 (5 Year) Options
• Located on Hard Signalized Corner
• One Mile Household Income $48,789
• Five Mile Population 2,475
• 3,680 Cars Per Day on 297th Street/SD-46
• Investment Grade Dollar Store
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth
• 2 Hospitals & K-12 School (978 Students) Within 1/2 Mile of Site Location
• 10 minute Drive From Fort Randall Casino & Hotel
Instate Broker of Record: Robin K. Johnson | Dakota Plains Companies, Inc. | License # 15391