Dollar General Desert Hot Springs, CA
Fortis Net Lease is pleased to present this brand new 9,100 SF. 2021 BTS Dollar General store located in Desert Hot Springs, California. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 3 (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 an anticipated rent commencement date in September 2021.
This Dollar General is highly visible as it is strategically positioned on the corner of 5th Street and Palm Drive which sees 10,086 cars per day. It is on the main thoroughfare running through town. The five mile population from the site is 46,262 while the one mile average household income is $43,966 per year, making this location ideal for a Dollar General. This area is also experiencing great growth with the five mile population growth rate at 6.38%. 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 5.00% cap rate based on the NOI of $163,308.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2021 BTS Construction | Corner Location
• 3 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $43,966
• Five Mile Population 46,262 | Expected 6.38% Growth
• Three Mile Population Growth Rate 6.29%
• 10,086 VPD on Palm Drive
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Surrounded by Many Resorts & Spas
Instate Broker of Record: Paul Bonanno | Net Lease Realty Partners, Inc. | License # 01909616