Dollar General – Dickinson, ND
Fortis Net Lease is pleased to present this 2022 BTS, 10,566 SF. Upgraded Dollar General PLUS store located in Dickinson, North Dakota. It sits only 2 Miles from Dickinson State University & 4 miles from Dickinson-Theodore Roosevelt Regional Airport! The property offers a brand new 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 is under construction with rent commencement on track in late August 2022.
This Dollar General is highly visible as it is strategically positioned on S Main Street which sees 5,570 cars per day, near the intersection at 8th Street which sees 3,448 cars per day. The five mile population from the site is 28,748 while the one mile average household income $97,057 per year, making this location ideal for a Dollar General. This area is seeing huge growth with the 1 mile population growth rate at 13.85%. 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 5.20% cap rate based on NOI of $109,272.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2022 BTS Upgraded Construction | Plus Size Store
• 4 (5 Year) Options | 10% Increases At Each Option
• Only 2 Miles from Dickinson State University!
• One Mile Household Income $97,057
• Five Mile Population 28,748 | Expected 13.58% Growth
• One Mile Population Growth Rate 13.85%
• 5,570 VPD on S Main Street and 3,448 VPD on 8th Street
• Investment Grade Dollar Store | BBB Credit Rating
• 4 Miles from Dickinson-Theodore Roosevelt Regional Airport
• On Main Thoroughfare into Downtown Dickinson
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.