Dollar General – Butler, OH
Fortis Net Lease is pleased to present this 9,026 SF Dollar General store located in Butler, OH. The property is secured with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities, with 7 years remaining on the primary term. The lease contains Four (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 & operating successfully since September 2013.
This Dollar General is highly visible and it is strategically positioned on the corner of Cleveland Street and Grant Street which sees 4,175 cars per day. There are two points of ingress and egress, making the store accessible from both streets. The ten mile population from the site is 28,399 while the three mile average household income is $72,675 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 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 6.00% cap rate based on NOI of $95,877.
• Absolute NNN Lease | 2013 BTS Construction
• Zero Landlord Responsibilities | 7 Years Remaining
• Corner Location | Two Points of Ingress/Egress
• Four (5 Year) Options | 10% Rent Increase at Each Option
• Three Mile Household Income $72,675
• Ten Mile Population 28,399
• 4,175 Cars Per Day on Cleveland Street & Grant Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• No Competition Within 10+ Miles | Only Dollar Store Serving the Community!
Instate Broker of Record: Michael Fennessy | Dietz Commercial | License #2013001375