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 is currently wrapping up construction with rent on track to commence early September 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 5.40% cap rate based on NOI of $108,540.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 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.