Dollar General – Fleming, GA
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Fleming, GA, just outside of Savannah. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (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 scheduled to commence in November 2019.
This Dollar General is highly visible as it is strategically positioned at the corner of Freedman Grove Road and Ocean Highway which sees 16,795 cars per day. The ten mile population from the site exceeds 34,170, while the three mile average household income exceeds $61,600 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 brand new 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 6.40% cap rate based on NOI of $100,320.
• Brand New Absolute NNN 15 Year Lease
• Zero Landlord Responsibilities
• Upgraded Facade
• 2 Points of Ingress and Egress
• Four (5 Year) Options | 10% Increases at Each
• Three Mile Household Income $61,601
• Ten Mile Population Exceeds 34,170
• 16,795 Cars Per Day on Ocean Highway
• Investment Grade Dollar Store
• Dollar General Reported 30 Consecutive Quarter of Same Store Sales Growth
• Only 30 Miles Outside of Savannah, Georgia
Instate Broker of Record: Steve Miller | Miller Realty Services, Inc. | License # 11102