Dollar General – Gastonia, NC
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Gastonia, North Carolina. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (5) Yr. 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 is currently under construction with rent scheduled to commence in August 2020.
This Dollar General is highly visible as it is strategically positioned on the corner of Duncan Road and Union Road which sees 5,510 cars per day. The five mile population from the site is 45,025 while the one mile average household income $103,717 per year, making this location ideal for a Dollar General. This area is experiencing above average growth with the one mile population growth rate at 14%. 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 6.0% cap rate based on NOI of $103,296.
• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Brand New Construction | Hard Corner Location
• 4 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $103,717
• Five Mile Population 45,025
• One Mile Population Growth Rate 14%
• 5,510 Cars Per Day on Union Road
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarter of Same Store Sales Growth
• Charlotte, NC Market
Instate Broker of Record: James Wilson | Pulliam Properties, Inc. | License # C3903