Dollar General – Clovis, NM
Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Clovis, New Mexico. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 4 (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 just completed construction & successfully opened on September 30, 2022.
This Dollar General is highly visible as it is strategically positioned on N Norris Street seeing 4,119 cars per day, near the signalized corner at E 7th Street seeing 4,022 cars per day. It sits only 1 mile from the Clovis Community College (8,000+ students)! The 5 mile population from the site is 41,769 and the 1 mile average household income is $56,007 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 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 5.65% cap rate based on NOI of $108,540.
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Now Open | September 30, 2022
• 2022 BTS Plus Size Construction
• Near Signalized Intersection
• Only 1 Mile From Clovis Community College (8,000+ Students)
• 4 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $56,007
• 5 Mile Population 41,769
• 4,119 VPD on N Norris | 4,022 VPD on E 7th Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.