Dollar General – Castalia, NC
Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General PLUS store with an upgraded rick façade located in Castalia, North Carolina. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (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 is wrapping up construction with rent on track to commence in early February 2022.
This Dollar General is highly visible as it is strategically positioned on the corner of Edwards Road and State Highway 58 which sees 3,400 cars per day. The ten mile population from the site is 27,522 and the three mile average household income is $51,722 per year, making this location ideal for a Dollar General. This area is experiencing steady population growth. 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 5.00% cap rate based on NOI of $98,124.
• 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Brand New 2022 BTS Plus Size Construction
• Upgraded Brick Façade
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $51,722
• Ten Mile Population 27,522
• 3,400 Cars Per Day on State Highway 58
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.