Dollar General – Laura, OH
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Laura, Ohio. The property is encumbered with an Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains four (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 open with rent having commenced in May 2020.
This Dollar General is highly visible as it is strategically positioned on Main Street which sees 3,538 cars per day. The ten mile population from the site is 54,978 while the three mile average household income is $71,524 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 6.60% cap rate based on NOI of $96,711.96.
• Absolute (NNN) Lease | Zero Landlord Responsibilities
• Four (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $71,524
• Ten Mile Population 54,978 With Steady Growth Expected
• 3,538 Cars Per Day on Main Street
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 33 Consecutive Quarters of Same Store Sales Growth
• Dayton, OH MSA
• Only Dollar Store Serving the Community
Instate Broker of Record: Michael J. Fennesy | Dietz Commercial | License #2013001375