Dollar General – Leasburg, NC
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Leasburg, North Carolina. The property is encumbered with 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 rent commencing in November 2019.
This Dollar General is highly visible as it is strategically positioned on US Highway 158 E. The ten mile population from the site is 20,480 while the three mile average household income is $62,163 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 6.4% cap rate based on NOI of $101,352.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Four (5 Year) Options to Renew | 10% Rental Increases At Each
• Three Mile Household Income $62,163
• Ten Mile Population 20,480
• Investment Grade Dollar Store with “BBB” Credit Rating
• Dollar General Reported 30 Consecutive Quarter of Same Store Sales Growth
• Only Dollar Store Within 9 Miles
• Only General Store Serving the Entire Community
Instate Broker of Record: James Wilson | Pulliam Properties, Inc. | License # C3903