Dollar General – Mount Airy, NC
Fortis Net Lease is pleased to present this 9,100 SF. upgraded Dollar General store located in Mount Airy, North Carolina. The property is encumbered with 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 is currently under construction with rent scheduled to commence in February 2020.
This Dollar General is highly visible as it is strategically positioned on the corner of Beulah Church Road and W Pine Street which sees 6,273 cars per day. The ten mile population from the site is 39,809 while the three mile average household income $57,026 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 6.4% cap rate based on NOI of $109,536.
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Upgraded Construction | Hard Corner Location
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $57,026
• Ten Mile Population 39,809
• 6,273 Cars Per Day on W Pine Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Quarter of Same Store Sales Growth
• Across the Street From Beulah Elementary School
Instate Broker of Record: James Wilson | Pulliam Properties, Inc. | License #C3903