Dollar General – Monroe, NC
Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General Plus store located in Monroe, North Carolina with an upgraded exterior design & part of the Charlotte Market! The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5 (5 year) options to renew, each with a 10% rent 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 & store opening on track for July 2024.
This Dollar General is highly visible as it is strategically positioned just off Highway 74 (which sees 39,038 cars per day) on the corner of James Hamilton Road & N Rocky River Road which sees 10,115 cars per day. The 5 mile population from the site is 73,732 while the 1 mile average household income is $89,476 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 small box discount retailer. List price reflects a 6.50% cap rate based on NOI of $132,240.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Part of the Charlotte NC Market!
• Located off of Highway 74 Seeing 39,038 VPD
• Corner Location | 10,115 VPD
• 2024 BTS Plus Size | Plus Size & Upgraded Exterior Design
• 5 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $89,476
• Five Mile Population 73,732 and Growing
• Investment Grade Dollar Store With “BBB” Credit Rating
• Surrounded by Residential Homes
Cooperating Broker: Brian Brockman | Bang Realty