Dollar General – Leroy, AL
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Leroy, Alabama. 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 2013.
This Dollar General is highly visible as it is strategically positioned on Palmer Circle, off of Jefferson Davis Highway which sees 9,805 cars per day. The ten mile population from the site is 10,518 while the three mile average household income is $53,018 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 7.5% cap rate based on NOI of $89,864.
• Absolute (NNN) Lease | Zero Landlord Responsibilities
• Concrete Parking Lot
• 4 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $53,018
• Ten Mile Population 10,518
• 9,805 Cars Per Day on Jefferson Davis Highway
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Quarter of Same Store Sales Growth
• Only Dollar Store Within 4 Mile Radius
Instate Broker of Record: Randy Thomas | Ponder Properties Commercial Real Estate LLC | License # 53820