Dollar General – Hubert, NC
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Hubert, North Carolina. The property is encumbered with 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 now open with rent having commenced in May 2019.
This Dollar General is highly visible as it is strategically positioned on Old Highway 172. The five mile population from the site is 20,276 while the two mile average household income is $56,266 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. List price reflects a 6.3% cap rate based on NOI of $103,947.
• Absolute NNN Lease | Zero Landlord Responsibilities
• Brand New Construction
• 15 Year Term / 4 (5 Year) Options
• Two Mile Household Income $56,266
• Five Mile Population 20,276
• 21,000 Cars Per Day on Freedom Way
• Investment Grade Dollar Store with “BBB” Credit Rating
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth
• Only 7 Miles from Camp Lejeune Military Base
• 2 Campgrounds Within 2 Miles
Instate Broker of Record: George Venters | VanGuard Property Group