Dollar General – Greenville, KY

$778,052
Price
$60,299
Noi
7.75%
Cap Rate
9,014
Leasable Area
2006
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 9,014 SF Dollar General store located in Greenville, KY. The property is encumbered with a Twenty (20) Year Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains Five (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 has been open and successful with rent having commenced on 2/1/2007.

This Dollar General is highly visible and strategically positioned on Dame Way (seeing 2,947 cars per day) just off of and between both W Everly Blvd (seeing 12,436 cars per day) and Main Street (seeing 8,192 cars per day). The ten mile population from the site exceeds 27,000 while the three mile median household income is $48,941 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 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 7.75% cap rate based on NOI of $60,299.

INVESTMENT HIGHLIGHTS
• Double Net (NN) Lease | Minimal Landlord Responsibilities
• Five (5 Year) Options | 10% Rental Rate Increase at Each
• Three Mile Household Income $48,941
• Ten Mile Population 27,029
• 12,436 Cars Par Day on W Everly Blvd
• 8,192 Cars er Day on Main Street
• 2,947 Cars Per Day on Dame Way
• Dollar General announced 32nd Straight Quarter of Same Store Sales Growth
• 4 Local Schools Within a 3 Mile Radius Having Over 2,800 Students

 

Instate Broker of Record: Peter D. Barr | Block + Lot Real Estate, LLC | License #65116