Dollar General Market – Deep Run, NC
Fortis Net Lease is pleased to present this brand new 12,480 SF. Dollar General Market store located in Deep Run, North Carolina. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 year) options to renew. 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 completed construction & successfully opened for business in April 2024.
This Dollar General Market is highly visible as it is strategically positioned off of NC-11 on the corner of S Lenoir Drive seeing 9,750 cars per day. It sits adjacent to Southern Bank & across the Street from Family Dollar & South Lenoir High School. The 10 mile population from the site is 20,284 while the 3 mile average household income is $56,696 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 small box discount retailer. List price reflects a 6.65% cap rate based on the initial NOI of $133,752.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities | NOW OPEN!
• 5% RENT INCREASES EVERY 5 YEARS!!
• Corner Location | 9,750 Cars Per Day
• Dollar General Market | Produce and Fresh Meats
• 2024 BTS Plus Size | Market Prototype
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $56,696
• Ten Mile Population 20,284
• Across from Family Dollar & South Lenoir High School
• Investment Grade Dollar Store With “BBB” Credit Rating
Instate Broker of Record: Brian Brockman | Bang Realty