Dollar General – East Berne, NY
Fortis Net Lease is pleased to present this 9,320 SF. Dollar General store located in East Berne, New York. 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 and operating successfully since July of 2019.
This Dollar General is highly visible as it is strategically positioned on Helderberg Trail near the Main Street intersection. The ten mile population from the site is 29,174 while the three mile average household income is $97,580 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 5.15% cap rate based on NOI of $102,000.
• 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2019 BTS Construction | Upgraded Design
• Only Dollar Store Within 16+ Miles!
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $98,547
• Ten Mile Population 29,752
• 1,611 Cars Per Day on Helderberg Trail
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Nestled Between a True Value & Stewarts Shops Gas Station
Instate Broker of Record: Ben Schultz | Fortis Net Lease