Dollar General – Conway, NC
Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General PLUS store with an upgraded brick façade located in Conway, 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 has completed construction & successfully opened to the public in January 2023.
This Dollar General is highly visible as it is strategically positioned on N Church Street which sees 2,215 cars per day, adjacent to a Fresenius Kidney Care and just off of Highway 158 which sees 4,678 cars per day. The ten mile population from the site is 13,557 and the three mile average household income is $58,992 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 5.45% cap rate based on NOI of $88,332.
INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Brand New 2022 BTS Plus Size Construction
• Now Open | January 2023
• Upgraded Brick Façade | Adjacent to Fresenius Kidney Care
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $58,992
• Ten Mile Population 13,557
• 2,215 Cars Per Day on N Church Street
• Just off Highway 158 Seeing 4,678 Cars Per Day
• 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.