Dollar General – Bowman, ND
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.
• “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