Dollar General – Center, ND
Fortis Net Lease is pleased to present this brand new 9,026 SF. Dollar General store located in Center, 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. The store is currently under construction with rent scheduled to commence in November 2020.
This Dollar General is highly visible as it is strategically positioned on ND Highway 25 which sees 1,430 cars per day. The ten mile population from the site is 1,131 while the three mile average household income $82,444 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the three mile population growth rate at 6.21%. 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 6.60% cap rate based on the NOI of $90,504.
• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Brand New 2020 BTS Construction | Concrete Parking Lot
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $82,444
• Three Mile Population Growth Rate 6.21%
• Ten Mile Population 1,131
• 1,430 Cars Per Day on ND Highway 25
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Only Dollar Store Within 24+ Miles
Instate Broker of Record: Jeff Lunnen | Lunnen Real Estate Services | License #9171