Dollar General – Heathsville, VA
Fortis Net Lease is pleased to present this retrofit 11,305 SF Dollar General store located in Heathsville, Virginia – adjacent to a Food Lion grocery store. The property is secured with a Fifteen (15) Year Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains Five (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 under construction with rent & store opening on track for December 2023.
This Dollar General is highly visible and is strategically positioned off of Northumberland Hwy which sees 4,706 cars per day and sits next to a Food Lion that is the top grocer within a 15 mile radius. The ten mile population from the site is 11,399 while the three mile average household income is $61,555 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.
INVESTMENT HIGHLIGHTS
• New Double Net (NN) Lease | Minimal Landlord Responsibilities
• 2023 Retrofit Construction | Former Family Dollar Store
• Located in the Richmond-Petersburg Designated Market Area
• Five (5 Year) Options | 10% Rental Rate Increase at Each
• 6,927 Cars Per Day on Northumberland Highway
• Three Mile Household Income $61,555
• Ten Mile Population 11,399
• Corporate Guaranty | BBB Investment Grade Tenant
• Located on Main Thoroughfare Connecting Cities
• Adjacent to Food Lion | Top Performing Grocer in a 15 Mile Radius
Instate Broker of Record: Brian Brockman | Bang Realty