Dollar General – Dakota City, NE
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Dakota City, Nebraska. 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 under construction with rent scheduled to commence in January 2020.
This Dollar General is highly visible as it is strategically positioned on 14th Street which sees 4,350 cars per day. The five mile population from the site is 41,049 while the one mile average household income $80,807 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 6.5% cap rate based on NOI of $85,944.
• Brand New 15 Year Absolute NNN Lease | New Construction
• Zero Landlord Responsibilities
• 4 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $80,807
• Five Mile Population 41,049
• 4,350 Cars Per Day on 14th Street
• Investment Grade Dollar Store
• DG Reported 31 Consecutive Quarter of Same Store Sales Growth
• Sioux City, Iowa MSA
• 0.6 Miles From Tyson Foods Which Employs 4,500+ People
• 0.7 Miles From Dakota City Elementary School with 205+ Students
Instate Broker of Record: Teri Kreifels | DPA Realtors | License @ 20120204