Dollar General – Boyce, LA

$1,119,929
Price
$79,515
Noi
7.1%
Cap Rate
9,026
Leasable Area
2015
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,,026 SF Dollar General store located in Boyce, LA. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (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 currently open with rent having commenced on 4/27/2015.

This Dollar General is highly visible and is strategically positioned on Highway 1 seeing 3,216 cars per day, just a short distance from the exit off Interstate-49 seeing 22,832 cars per day. The ten mile population from the site is 85,137 while the three mile average household income is $74,339 per year, making this location ideal for a Dollar General. The area is experiencing great growth with the three mile population growth rate at 4.08%. 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 7.10% cap rate based on NOI of $79,515.

INVESTMENT HIGHLIGHTS
• Brand New Absolute NNN Lease | Zero Landlord Responsibilities
• Located on Primary Thoroughfare in the Trade Area
• Four (5 Year) Options | 10% Rental Rate Increase at Each
• 3,216 Cars Per Day Highway 1
• 22,832 Cars Per Day on I-49
• Three Mile Household Income $74,339
• Ten Mile Population 85,135
• Three Mile Population Growth Rate 4.08%
• Dollar General announced 32nd Straight Quarter of Same Store Sales Growth
• Alexandria MSA | Only 8 Miles from Downtown Alexandria
• Approximately 4 Miles From Alexandria International Airport

 

Instate Broker of Record: Mathew Laborde | Elifin | License # 21862