Dollar General – Cook, MN
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Cook, Minnesota. The property is encumbered with 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 open with rent commencing on August 22, 2019.
This Dollar General is highly visible as it is strategically positioned on N. Highway 53 which sees 3,950 cars per day. The ten mile population from the site is 2,592 with an expected population growth rate of 2.62%, while the three mile average household income $59,059 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 6.6% cap rate based on NOI of $89,033.
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $59,059
• Ten Mile Population 2,592 With Expected 2.62% Growth
• 3,950 Cars Per Day on N. Highway 53
• Investment Grade Dollar Store
• Dollar General Reported 31 Consecutive Quarter of Same Store Sales Growth
• Only Dollar Store Within 26 Miles
Instate Broker of Record: James Camarata | Integrity Lake Minnetonka Holdings, LLC | License # 40194993