Dollar General – Greensboro, NC
Fortis Net Lease is pleased to present this 9,100 SF. upgraded, corner entry Dollar General RELOCATION store located in Greensboro, North Carolina. The property offers a Fifteen (15) Year Absolute NNN Lease. The landlord is only responsible for an annual Stormwater Association Fee (in the event any Owner, or the Association, fails to properly maintain their property or the Shared Stormwater Facilities, recourse is limited to fines assessed by the Association). 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 is currently preparing for construction with rent on track to commence in June of 2021.
This Dollar General is highly visible as it is strategically positioned a short distance from the Old US 421 intersection on Pleasant Garden Road which sees 23,542 cars per day. The five mile population from the site is 138,654 while the one mile average household income $57,761 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 5.61%. 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 5.40% cap rate based on NOI of $112,114.
• New 15 Year Absolute NNN Lease
• RELOCATION STORE
• Upgraded Construction | Corner Entry Design
• 4 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $57,761
• One Mile Population Growth Rate 5.61%
• Five Mile Population 138,654
• 23,542 Cars Per Day at the Old US 421 & Pleasant Garden Rd. Intersection
• 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, Inc.