Dollar General – Minot, ND
Fortis Net Lease is pleased to present this 2021 BTS, 9,100 SF. Dollar General store located in Minot, North Dakota. It sits only 1.2 Mile from Minot State University & only 1.6 Miles from Minot International Airport! The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 has been open & operating with great success since August of 2021.
This Dollar General is highly visible as it is strategically positioned on the corner of 14th Street NW and 21st Street NW which sees 6,286 cars per day. Adjacent to the store is a Marketplace Foods & Dollar Tree anchored shopping center. The five mile population from the site is 54,002 while the one mile average household income $93,915 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 5.70% cap rate based on NOI of $107,608.
• 15 Year Absolute NNN Lease | 14.5 Years Remaining on Primary Term
• Zero Landlord Responsibilities | Concrete Parking Lot
• 4 (5 Year) Options | 10% Increases At Each Option
• Only 1.2 Miles from Minot State University!
• Three Mile Household Income $93,915
• Five Mile Population 54,002
• 6,286 Cars Per Day on 21st Street NW
• Investment Grade Dollar Store | BBB Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• 1.6 Miles from Minot International Airport
• Surrounding Tenants Include Marketplace Foods, Dollar Tree, AutoZone, and Many Residential Homes
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.