Dollar General – Mount Sterling, KY
Fortis Net Lease is pleased to present this 8,625 SF Dollar General store located in Mt Sterling, Kentucky. The property offers a Double Net (NN) Lease, within 6 years remaining, leaving limited landlord responsibilities. Dollar General recently extended their term an additional 5 years, proving their commitment to the site. 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 open and successfully operating with rent having commenced on 10/1/1999.
This Dollar General is highly visible as it is strategically positioned on Camargo Road (Highway 460) which sees 11,948 cars per day. The ten mile population from the site exceeds 34,000, while the three mile average household income exceeds $61,000 per year, making this location perfect 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 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 7.47% cap rate based on NOI of $51,519.
• Double Net (NN) Lease | 6 Years Remaining
• Minimal Landlord Responsibilities
• Concrete Parking Lot
• Currently in Third Lease Extension | Proving Commitment to Site
• Three Mile Household Income $61,227
• Ten Mile Population 34,612
• 11,948 Cars Per Day on Camargo Road
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Located on Main Thoroughfare
Instate Broker of Record: Peter D. Barr | Block+Lot Real Estate, LLC