Dollar General – Waverly, GA
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Waverly, Georgia. The property is secured with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (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 open with rent having commenced in March 2017.
This Dollar General is highly visible as it is strategically positioned on the corner of Horsestamp Church Road (GA-110) and US Highway 17 which sees 2,320 cars per day. The ten mile population from the site is 13,929 while the three mile average household income is $80,457 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the 1 mile population growth rate at 6.45%. 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 7.26% cap rate based on NOI of $94,368.00.
INVESTMENT HIGHLIGHTS
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Hard Signalized Corner Location
• 7 Years 2 Months Remaining on Primary Term
• Five (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $80,457
• Ten Mile Population 13,929 With Expected 3.85% Growth
• 2,320 Cars Per Day on US Highway 17
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Quarter of Same Store Sales Growth
• No Competition in Over 9 Miles
• On a Main Thoroughfare
• Only Dollar Store Serving the Community!
Instate Broker of Record: Brian Brockman | Bang Realty