Dollar General – Millsboro, DE
Fortis Net Lease is pleased to present this 10,640 SF Relocation Plus Dollar General store located in Millsboro, DE. The property is encumbered with a Fifteen (15) Year NN Lease, leaving limited landlord responsibilities. The lease contains Five (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 is currently open construction, with rent having commenced on 9/29/2015.
This Dollar General is highly visible as it is strategically positioned on John J. Williams Highway which sees 17,671 cars per day at it’s nearest intersection. The five mile population from the site exceeds 29,600, while the one mile median household income exceeds $71,000 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 brand new 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 $149,240.56.
• Relocation Plus | Limited Landlord Responsibilities
• 15 Year NN Lease | Five (5 Year) Options
• 17,671 Cars Per Day at John J Williams Hwy & Long Neck Rd.
• 11.13% Population Growth Within One Mile
• One Mile Household Income $71,330
• Five Mile Population Exceeds 29,600
• Investment Grade Dollar Store
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth
• Directly Across From New Bay Shore Plaza Anchored by Giant Grocery store
Instate Broker of Record: Mark Mueller | Broad Reach Brokerage Services