Dollar General – Hickory, NC

$1,773,696
Price
$110,856
Noi
6.25%
Cap Rate
9,100
Leasable Area
2020
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 9,100 SF. upgraded Dollar General store located in Hickory, North Carolina. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 will begin construction soon with rent scheduled to commence in October 2020.

This Dollar General is highly visible as it is strategically positioned on the hard corner of Greedy Highway and NC Highway 127, which sees 9,560 cars per day, and is accessible from both roads. The ten mile population from the site is 105,068 while the three mile average household income $65,437 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 6.25% cap rate based on NOI of $110,856.00.

INVESTMENT HIGHLIGHTS
• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Upgraded Construction | Hard Corner Location
• Two Points of Ingress & Egress | Accessible From Both Roads
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $65,437
• Ten Mile Population 105,068
• 9,560 Cars Per Day on NC Highway 127
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 33 Consecutive Quarter of Same Store Sales Growth
• Directly Across the Street From a Gas Station, Church & Several Local Businesses

 

Instate Broker of Record: James Wilson | Pulliam Properties | License # C3903