Dollar General – Hillsboro, ND

$1,408,195
Price
$86,604
Noi
6.15%
Cap Rate
9,002
Leasable Area
2016
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 9,002 SF. Dollar General store located in Hillsboro, North Dakota. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. There are 10.25 years remaining on the primary term. The lease contains 4 (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 April of 2016.

This Dollar General is highly visible as it is strategically positioned on the corner of 5th St. SW and W. Caledonia Ave. which sees 2,773 cars per day. It is just off of the I-29 exit which sees 12,036 cars per day. The ten mile population from the site is 2,658 while the three mile average household income is $72,147 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 6.15% cap rate based on the NOI of $86,604.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 3% Rental Rate Increase at Year 11
• Corner Location | Concrete Parking Lot
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $72,147
• Ten Mile Population 2,658
• 2,733 VPD on W. Caledonia Ave. | 12,036 VPD on I-29
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Immediately off of the I-29 Exit | Convenient On/Off Expressway Access

 

InState Broker of Record: Brian Brockman | Bang Realty, Inc.