Dollar General – Minot, ND (36th Ave)

$2,186,077
Price
$113,676
Noi
5.20%
Cap Rate
10,640
Leasable Area
2022
Year Built

Fortis Net Lease is pleased to present this 2022 BTS, 10,640 SF. Upgraded Dollar General PLUS store located in Minot, North Dakota. It sits only 2 Miles from Minot State University & Minot International Airport! The property offers a Fifteen (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 is under construction with rent commencement on track for September 2022.

This Dollar General is highly visible as it is strategically positioned on the corner of Highway 83 and 36th Avenue NE which sees 13,545 cars per day. The five mile population from the site is 46,054 while the one mile average household income is $89,022 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 5.20% cap rate based on NOI of $113,676.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Hard Corner Location | Accessible From Both Streets
• 2 Points of Ingress/Egress for Easy Access to Store
• 4 (5 Year) Options | 10% Increases At Each Option
• Only 2.2 Miles from Minot State University!
• One Mile Household Income $89,022
• Five Mile Population 46,054
• 13,545 Cars Per Day on Highway 83 and 36th Avenue NE
• Investment Grade Dollar Store | BBB Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• 1.9 Miles from Minot International Airport
• On Main Thoroughfare into Downtown Minot

Instate Broker of Record: Brian Brockman | Bang Realty, Inc.

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM