Dollar General – Killdeer, ND
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Killdeer, North Dakota. 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 currently under construction with rent scheduled to commence in August 2020.
This Dollar General is highly visible as it is strategically positioned off of Highway 22 which sees 8,830 cars per day in the heart of oil country. The ten mile population from the site is 2,101 while the three mile average household income $100,806 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 6.50% cap rate based on NOI of $94,902.
• Located in the Heart of Oil Country!
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2020 BTS Construction
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $100,806
• Ten Mile Population 2,101
• 8,830 Cars Per Day on Highway 22
• Investment Grade Dollar Store with Credit Rating “BBB”
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• No Competition Within 34 Miles!
Instate Broker of Record: Jeff Lunnen | Lunnen Real Estate Services | License # 9171