Dollar General – Bladenboro, NC
Fortis Net Lease is pleased to present this 12,480 SF Dollar General Relo Plus store located in Bladenboro, NC. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving Zero landlord responsibilities. The lease contains a 3% rental increase in year 11 of the primary term and Five (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 open with rent having commenced on 9/27/2014.
This Dollar General is highly visible as it is strategically positioned on W. Seaboard Street having a traffic count of 6,900 cars per day. The ten mile population from the site exceeds 21,000, while the three mile median household income exceeds $46,505 per year, making this location perfect 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 6.8% cap rate based on NOI of $113,736.
• Absolute NNN Lease
• Relocation Plus Store
• Zero Landlord Responsibilities
• 15 Year Term | Five (5 Year) Options
• 3% Rental Increase in Year 11 | 10% Rental Increase At Options
• Three Mile Household Income $46,505
• Ten Mile Population Exceeds 21,000
• 6,900 Cars Per Day on W. Seaboard Street
• Dollar General Reported 28 Consecutive Quarter of Same Store Sales Growth
Instate Broker of Record: James Wilson | Pulliam Properties | License # C3903