Dollar General – Choctaw, OK

$1,472,711
Price
$99,408
Noi
6.75%
Cap Rate
9,100
Leasable Area
2019
Year Built

CONTACT US REGARDING THIS LISTING

Patrick Hammond

Senior Director

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 9,100 SF upgraded, all brick Dollar General store located in Choctaw, OK. The property is secured with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The parking lot is full concrete. 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 open with rent having commenced on 3/13/2019.

This Dollar General is highly visible and is strategically positioned on the hard corner of SE 104th Street and S Choctaw Road which sees 3,994 cars per day. The ten mile population from the site is 118,654 while the three mile average household income is $98,118 per year, making this location ideal for a Dollar General. This area is also experiencing great growth with the three mile population growth rate at 4.03%. 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 6.75% cap rate based on NOI of $99,408.

 

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Four (5 Year) Options | 10% Rental Rate Increases at Each
• Upgraded Full Brick Construction
• Concrete Parking Lot
• Three Mile Household Income $98,118
• Ten Mile Population 118,654
• Three Mile Population Growth Rate 4.03%
• Dollar General announced 32nd Straight Quarter of Same Store Sales Growth
• No Competition Within 6 Miles
• Oklahoma City MSA

Instate Broker of Record: Jason Wells | Insight Commercial Real Estate Brokerage | License # 148638