Dollar General – Galway, NY

$2,015,980
Price
$103,823
Noi
5.15%
Cap Rate
9,400
Leasable Area
2019
Year Built

Fortis Net Lease is pleased to present this 9,400 SF. Dollar General store located in Galway, 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 February of 2019.

This Dollar General is highly visible as it is strategically positioned on the corner of Sacandaga Rd & New York State Route 29 which sees 12,530 cars per day. The ten mile population from the site is 42,295 while the three mile average household income is $100,721 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 5.15% cap rate based on NOI of $103,823.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2019 BTS Construction
• Corner Location | Located on Main Thoroughfare
• No Competition Within 9 Miles
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $100,721
• Ten Mile Population 42,295
• 12,530 Cars Per Day at Sacandaga Rd & New York State Route 29
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Across the Street From Stewart’s Shops Gas Station & Convenience Store

Instate Broker of Record: Ben Schultz | Fortis Net Lease

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM