Dollar General – Fort Sumner, NM
Fortis Net Lease is pleased to present this 2024 BTS 10,640 SF. Dollar General Plus store located in Fort Sumner, New Mexico. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years including at each of the 5 (5 year) options to renew. 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 completed construction and successfully opened for business in June 2024.
This Dollar General is highly visible as it is strategically positioned on the corner of Avenue G & 16th Street, just off of Highway 60 seeing 5,925 cars per day. The store is easily accessible from both streets with 2 points of ingress/egress. The 10 mile population from the site is 1,322 and the 3 mile average household income is $45,457 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 6.80% cap rate based on NOI of $127,843.20.
INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | 14.5 Yrs Remaining on Primary Term
• Zero Landlord Responsibilities
• 2024 BTS Plus Size Construction
• 5% Rental Rate Increases Every 5 Years!
• Now Open | June 2024
• 2 Points of Ingress/Egress | Accessible from 2 Streets
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $45,457
• 10 Mile Population 1,322
• 5,925 Cars Per Day on Highway 60
• Investment Grade Dollar Store With “BBB” Credit Rating
• Dollar General Corporate Guaranty
Instate Broker of Record: Brian Brockman | Bang Realty