Dollar General – Lebo, KS
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Lebo, Kansas. 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 also provides a 3% rental rate increase in year 11. 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 open and has been successfully operating since April 2016.
This Dollar General is highly visible as it is strategically positioned directly off the I-35 exit which sees 14,338 cars per day, at the intersection of Bree Drive and Fauna Rd. NW which sees 2,195 cars per day. The ten mile population from the site is 3,316 while the three mile average household income is $86,255 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 6.25% cap rate based on the NOI of $76,824.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 4 (5 Year) Options | 10% Increases At Each Option
• 3% Rental Rate Increase at Year 11
• Concrete Parking Lot
• Three Mile Household Income $86,255
• Ten Mile Population 3,316
• 14,338 Cars Per Day on I-35 | 2,195 Cars Per Day on Fauna Rd NW
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Easy On/Off Access to I-35
• No Competition Within 16+ Miles
Instate Broker of Record: Adam Blue | Elevate Property Advisors | License # 2014008174