Dollar General Market – Mendota, IL
Fortis Net Lease is pleased to present this new 12,687 SF. Dollar General Market store located in Mendota, Illinois. 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 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 has been open and operating successfully since December 2022.
This Dollar General is highly visible as it is strategically positioned on N 43rd Road which sees 5,069 cars per day and less than 1 mile from Mendota Community Hospital (a 57 bed hospital). The ten mile population from the site is 13,247 while the three mile average household income is $73,172 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 5.85% cap rate based on NOI of $103,878.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Dollar General Market | Produce and Fresh Meats
• 2022 BTS Construction
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $73,172
• Ten Mile Population 13,247
• 5,069 VPD on N 43rd Road
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
• Less than 1 Mile from Mendota Community Hospital | 57 Bed Hospital
Instate Broker of Record: Eli Schultz | Fortis Net Lease