Dollar General – Crawfordsville, IN
Fortis Net Lease is pleased to present this brand new 10,566 SF. Dollar General store located in Crawfordsville, Indiana. The property offers a 15 Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 Year) options to renew. 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 on track to finish construction & open for business in November 2024.
This Dollar General is highly visible as it is strategically positioned on the hard corner of Cloverdale Drive and Highway 136 seeing 12,118 cars per day! The 5 mile population from the site is 23,674 and the 3 mile average household income is $64,663 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 6.70% cap rate based on the NOI of $136,084.32.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 5% Rent Bumps Every 5 Years
• Hard Corner Location
• 5 (5 Year) Options | 5% Increases At Each Option
• 2024 BTS Construction | Upgraded Architectural Design
• Three Mile Household Income $64,663
• Five Mile Population 23,674
• 12,118 Cars Per Day | Surrounded by Residential
• Investment Grade Dollar Store With “BBB” Credit Rating
• Dollar General Guaranty
Instate Broker of Record; Brian Brockman | Bang Realty