Dollar General – Garfield, GA
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Garfield, Georgia. The property is secured with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. There are 11 years remaining on the primary term and 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 completed construction & successfully opened for business in July 2019.
This Dollar General is highly visible as it is strategically positioned at the corner of Georgia Hwy 23 and Hall St. The 10 mile population from the site is 6,955 and the 3 mile average household income is $62,437 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 7.60% cap rate based on NOI of $83,604.
INVESTMENT HIGHLIGHTS
• Absolute NNN Lease
• Zero Landlord Responsibilities
• Corner Location
• Limited Competition Area
• 11 Years Remaining on Primary Term
• Five (5 Year) Options | 10% Increases at Each
• Three Mile Household Income $62,437
• Ten Mile Population 6,955 & Growing
• Investment Grade Dollar Store
• Corporate Guaranty | Dollar General Corporation
Instate Broker of Record: Brian Brockman | Bang Realty