Dollar General – Dickinson, ND (23rd Ave)

$1,973,891
Price
$108,564
Noi
5.50%
Cap Rate
9,100
Leasable Area
2021
Year Built

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.

INVESTMENT HIGHLIGHTS
• 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.

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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