Dollar General – Emerado, ND
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Emerado, North Dakota. The property offers a Fifteen (15) Year, Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (5) Yr. 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 currently under construction with rent scheduled to commence around November 1, 2020.
This Dollar General is highly visible as it is strategically positioned off of Highway 2 (seeing 9,947 VPD) on 5th Street directly across the street from Grand Forks Air Force Base. The ten mile population from the site is 4,513 while the three mile average household income $71,846 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 6.50% cap rate based on NOI of $93,652.
• Grand Forks Suburb Across the Street from Grand Forks Air Force Base
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2020 BTS Construction | Concrete Parking Lot
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $71,846
• Ten Mile Population 4,513
• 9,947 Cars Per Day on Highway 2
• Investment Grade Dollar Store with Credit Rating “BBB”
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• No Competition Within 15 Miles
Instate Broker of Record: Jeff Lunnen | Lunnen Real Estate Services | License # 9171