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 has completed construction & successfully opened in 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
• NOW OPEN | December 2023
• 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