Dollar General – Crosby, ND

$1,424,492
Price
$92,592
Noi
6.50%
Cap Rate
9,100
Leasable Area
2020
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this brand new 9,100 SF. Dollar General store located in Crosby, North Dakota. The property offers 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 will begin construction soon with rent scheduled to commence in November 2020.

This Dollar General is highly visible as it is strategically positioned on the corner of 102nd Street NW and 4th Street SE which sees 3,287 cars par day. The ten mile population from the site is 1,474 while the five mile average household income $70,380 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 6.50% cap rate based on the NOI of $92,592.

INVESTMENT HIGHLIGHTS
• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Brand New 2020 BTS Construction
• 4 (5 Year) Options | 10% Increases At Each Option
• Five Mile Household Income $70,380
• Ten Mile Population 1,474
• 3,287 Cars Per Day at 102nd Street NW and 4th Street SE
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• No Competition Within 30+ Miles!

 

Instate Broker of Record: Jeff Lunnen | Lunnen Real Estate Services | License # 9171