Dollar General – Greensboro, NC
Fortis Net Lease is pleased to present this 10,640 SF. corner entry Dollar General Plus store featuring an upgraded façade and located in Greensboro, North Carolina. The property offers a Fifteen (15) Year Absolute NNN Lease. The lease contains 5 (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 & operating successfully since August 2022.
This Dollar General is highly visible as it is strategically positioned a short distance from the NC-150 Highway and N Church Street intersection which sees 10,337 cars per day. The five mile population from the site is 26,492 & the one mile average household income $136,973 per year, making this location ideal for a Dollar General. This area is seeing above average growth with the one mile population growth rate at 5.36%. 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 5.00% cap rate based on NOI of $107,832.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Upgraded Façade | Plus Size Footprint
• Opened in August 2022
• No Competition within 7 Miles
• 4 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $136,973 (Ideal Shopper Demographic According to Article Published by CNN Business in Sept 2022)
• One Mile Population Growth Rate 5.36%
• Five Mile Population 26,492
• 10,337 Cars Per Day at NC-150 Highway and N Church Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Greensboro/Winston-Salem Market
Instate Broker of Record: Brian Brockman | Bang Realty