Dollar General – Flat Rock, AL
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Flat Rock, Alabama. The property is encumbered with an Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains five (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 open with rent having commenced in July 2017.
This Dollar General is highly visible as it is strategically positioned on the corner of Country Road 326 and State Route 71 which sees 1,939 cars per day. The ten mile population from the site is 18,696 while the three mile average household income is $45,661 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 a 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 an 7.0% cap rate based on NOI of $85,500.
• Absolute (NNN) Lease | Zero Landlord Responsibilities
• Corner Location
• Five (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $45,661
• Ten Mile Population 18,696
• 1,939 Cars Per Day on State Route 71
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Quarter of Same Store Sales Growth
• Only Dollar Store Within 5 Miles
• 0.2 Miles From Flat Rock School (130+ Students)
Instate Broker of Record: Randy Thomas | Ponder Properties Commercial Real Estate | License #53820