Dollar General – Bowman, ND

$1,468,941
Price
$99,888
Noi
6.80%
Cap Rate
9,002
Leasable Area
2019
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

DOWNLOAD LINKS

OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 9,002 SF. Dollar General store located in Bowman, North Dakota. The property offers a Fifteen (15) Year, Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 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.

This Dollar General is highly visible as it is strategically positioned off of US-12 (seeing 4,700 VPD) near Highway 85 (seeing 3,930 VPD). The ten mile population from the site is 2,255 while the three mile average household income $81,508 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 6.80% cap rate based on NOI of $99,888.

INVESTMENT HIGHLIGHTS
• “Essential Retail” Dollar General
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2019 New Construction
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $81,508
• Ten Mile Population 2,255
• 4,700 Cars Per Day on US-12
• 3,930 Cars Per Day on Highway 85
• Investment Grade Dollar Store wIth Credit Rating “BBB”
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
• Only Dollar Store Serving the Community

Instate Broker of Record: Jeff Lunnen | Lunnen Real Estate Services | License #9171