Dollar General – Greensburg,KY
Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General Plus size store located in Greensburg, Kentucky. The property is secured with a 15 year Absolute NNN Lease, leaving zero landlord responsibilities. 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 is currently open with rent having commenced in January 2023.
This Dollar General is highly visible as it is strategically positioned on the corner of Donansburg New Salem Road and KY-88 which sees 1,847 cars per day. The ten mile population from the site is 13,227 while the three mile average household income is $45,466 per year, making this location ideal for a Dollar General. There is limited competition with the next dollar store 9 miles away. 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 6.20% cap rate based on NOI of$93,995.76.
• 15 Yr Absolute NNN Lease | Zero Landlord Responsibilities
• 2023 BTS Construction | Just Opened in January 2023
• Concrete Parking Lot
• Five (5 Year) Options | 10% Rent Increases At Each Option
• Corner Site Location | Accessible from Both Streets
• Three Mile Household Income $45,466
• Ten Mile Population 13,227
• 1,847 Cars Per Day on KY-88
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Years of Same Store Sales Growth
• Limited Competition Area | Next Dollar Store 9 Miles Away
Instate Broker of Record: Brian Brockman | Bang Realty