Dollar General – 10 Store Portfolio

$13,685,969
Price
$889,588
Noi
6.50%
Cap Rate
90,582
Leasable Area
2012-2014
Year Built

CONTACT US REGARDING THIS LISTING

Rob Bender

Managing Partner

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this extremely rare and geographically diverse Dollar General portfolio, with sites being in IL, IN, KS, MI and MN. Most properties saw rent commence 2014 with 2 sites commencing in 2013 and 1 site in 2012. Each is secured with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. Six locations have a 3% rental rate increase in year 11 of the primary term, while all have (5) Yr. options to renew, each with a 10% rental rate increase. The leases are corporately guaranteed by Dollar General Corporation which holds an S&P credit rating of “BBB” and is classified as Investment Grade.

The portfolio benefits from having cumulatively very strong Dollar Store demographics, with 4 sites exceeding 100,000 in 5 mile population and with the 3 mile household income average coming in at $64,483. Purchase prices reflect a 6.50% cap rate based on actual NOI of $889,588. The new owner will see continued success in owning a portfolio of Dollar General Stores, the #1 Dollar Store in the Country!

 

INVESTMENT HIGHLIGHTS
• Extremely Rare 10 Store DG Portfolio!
• 15 Yr. Absolute NNN Leases (DG Corporate Guarantee)
• Impressive Cumulative Demographics, with 4 Sites Exceeding 100K 5 Mile Population!
• Average 3 Mile Household Incomes Ideal at $64,483
• Six Locations have 3% Increases in Yr 11 of Primary Term
• All Lease Equipped with multiple (5) Year Options with 10% Bumps
• Extremely Attractive Financing Options allow for 6.88% Cash on Cash!

 

Instate Broker of Record: Brian Brockman | Bang Realty, Inc.