Dollar General – Griswold, CT
Fortis Net Lease is pleased to present this upgraded 9,100 SF. Dollar General store located in Griswold, Connecticut. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities, with 8.5 years remaining on the primary term. The lease contains 5 (5 year) options to renew, each with a 10% rental rate increase. There is a 3% rental rate increase in year 11 of the primary term. 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 since October of 2014.
This Dollar General is highly visible as it is strategically positioned on the main thoroughfare going into Jewett City, Voluntown Road which sees 6,960 cars per day. The ten mile population from the site is 75,181 and the three mile average household income is $98,150 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 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 6.00% cap rate based on the NOI of $110,812.68.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 3% Rental Rate Increase at Year 11
• Upgraded Design | Located on Main Thoroughfare
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $98,150
• Ten Mile Population 75,181
• 6,960 VPD on Voluntown Road
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.