Dollar General – Midway, AL
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Midway, Alabama. The property is encumbered with an Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains five (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 March 2017.
This Dollar General is highly visible as it is strategically positioned on Highway 82 which sees 2,204 cars per day. The ten mile population from the site is 2,592 while the three mile average household income is $39,032 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 7.0% cap rate based on NOI of $77,721.00.
• Absolute (NNN) Lease | Zero Landlord Responsibilities
• 4 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $39,032
• Ten Mile Population 2,592
• 2,204 Cars Per Day on N. Broadway Avenue
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Quarter of Same Store Sales Growth
• 0.6 Miles From Meritt Elementary School (109+ Students)
• Only Dollar Store Within 13 Miles
Instate Broker of Record: Randy Thomas | Ponder Properties Commercial Real Estate | License # 53820