Dollar General – Fountaintown, IN
Fortis Net Lease is pleased to present this brand new 10,640 SF. Upgraded Dollar General Plus store located in Fountaintown, Indiana – part of the Indianapolis Market. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years during the primary term and 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 & successfully opened for business on January 27, 2024.
This Dollar General is highly visible as it is strategically positioned on IN-9 which sees 6,742 cars per day and is the only dollar store serving the community. It has easy on/off access to Highway 52 which sees 5,223 cars per day. The 10 mile population from the site is 63,140 while the 3 mile average household income is $102,209 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 6.60% cap rate based on NOI of $130,733.88.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• RARE 5% RENT INCREASES EVERY 5 YEARS!
• Indianapolis Market! | JUST OPENED!
• 2024 BTS Plus Size | Upgraded & Plus Size Design
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $102,209
• Ten Mile Population 63,140 | Expected 4.57% Growth
• 6,742 VPD on IN-9 | 5,223 VPD on Highway 52
• On Main Thoroughfare | Only Dollar Store Serving the Community
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
Instate Broker of Record: Bang Realty | Brian Brockman