Dollar General – Fort Edward, NY
Fortis Net Lease is pleased to present this 9,281 SF. Dollar General store located in Fort Edward, 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 November of 2019.
This Dollar General is highly visible as it is strategically positioned on Broadway which sees 11,549 cars per day. The five mile population from the site is 47,590 while the three mile average household income is $68,140 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 a5.15% cap rate based on NOI of $111,093.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2019 BTS Construction | Located on Main Thoroughfare
• 12.5 Years Remaining on Primary Term
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $68,140
• Five Mile Population 47,590
• 11,549 Cars Per Day on Broadway
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Across the Street From Fort Hudson Health Systems – a 196 bed Nursing Center
• 0.4 Miles from Fort Edward Jr Sr High School | 525+ Students
Instate Broker of Record: Ben Schultz | Fortis Net Lease