Dollar General – Alexander City, AL

$1,213,417
Price
$77,052
Noi
6.35%
Cap Rate
9,100
Leasable Area
2014
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Alexander City, Alabama. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains five (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 has been open and operating successfully since January of 2015.

This Dollar General is highly visible as it is strategically positioned on the hard corner of Sunny Level Cutoff and Hillabee Road, the main thoroughfare into downtown Alexander City, which sees 7,277 cars per day. The ten mile population from the site is 26,448 while the three mile average household income $46,389 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 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 6.35% cap rate based on NOI of $77,052.

INVESTMENT HIGHLIGHTS
– New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
– Corner Location on Main Thoroughfare
– Concrete Parking Lot
– 5 (5 Year) Options | 10% Increases At Each Option
– Three Mile Household Income $46,389
– Ten Mile Population 26,448
– 7,277 Cars Per Day at Sunny Level Cutoff and Hillabee Road
– Investment Grade Dollar Store With “BBB” Credit Rating
– DG Reported 30 Consecutive Years of Same Store Sales Growth

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