Dollar General – Kingsland, GA
Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General PLUS store located in Kingsland, Georgia. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 is currently under construction with store opening & rent on track to commence in June 2022.
This Dollar General is highly visible as it is strategically positioned immediately adjacent to a new O’Reilly Auto Parts on East King Avenue which sees 18,179 cars per day, near the I-95 exit/entrance ramp which sees 70,374 cars per day. The five mile population from the site is 23,452 and growing, while the one mile average household income is$58,802 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the three mile population growth rate is 5.52%. 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 4.50% cap rate based on NOI of $86,688.
INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• BTS 2022 Plus Size Construction | On Main Thoroughfare
• 4 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $58,802
• Five Mile Population 23,452 | Expected Growth 5.76%
• Three Mile Population Growth Rate 5.52%
• 18,179 Cars Per Day on E King Avenue
• 70,374 Cars Per Day on I-95
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Adjacent to a Brand New O’Reilly Auto Parts Store in Downtown Kingsland
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.