Dollar General – Dickinson, ND (23rd Ave)
Fortis Net Lease is pleased to present this 2021 BTS, 9,100 SF. Dollar General store located in Dickinson, North Dakota. It sits only 1 Mile from Dickinson State University & 6 miles from Dickinson-Theodore Roosevelt Regional Airport! The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 been open & operating successfully since December 2021.
This Dollar General is highly visible as it is strategically positioned on the corner of I-94 Business Loop and 23rd Avenue W which sees 9,119 cars per day. The five mile population from the site is 28,928 while the one mile average household income $88,835 per year, making this location ideal for a Dollar General. This area is seeing huge growth with the 5 mile population growth rate at 11.65%. 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 5.50% cap rate based on NOI of $108,564.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2021 BTS Construction | Corner Location
• 4 (5 Year) Options | 10% Increases At Each Option
• Only 1 Mile from Dickinson State University!
• One Mile Household Income $88,835
• Five Mile Population 28,928 | Expected 11.65% Growth
• One Mile Population Growth Rate 11.51%
• 9,119 VPD at I-94 Business Loop and 23rd Avenue W
• Investment Grade Dollar Store | BBB Credit Rating
• 6 Miles from Dickinson-Theodore Roosevelt Regional Airport
• 1 Mile from CHI St. Alexius Health Dickinson Medical Center (a 25-bed, Critical Access Hospital with a Level IV Trauma Center)
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.