Dollar General – London, KY
Fortis Net Lease is pleased to present this 9,100SF. Dollar General store located in London, Kentucky. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (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 has been open and operating successfully since July of 2020.
This Dollar General is highly visible as it is strategically positioned on Blackwater Rd which sees 7,485 cars per day. The ten mile population from the site is 37,654 while the three mile average household income is $52,082 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031exchange 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 5.15% cap rate based on NOI of $79,865.04.
• 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2020 BTS Construction | Corner Location
• Located on Main Thoroughfare
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $52,082
• Ten Mile Population 37,654 | Expected 1.98% Growth
• Three Mile Population Growth Rate 3.54%
• 7,485 Cars Per Day on Blackwater Road
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.