Dollar General – Mt. Airy, NC
Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store with an upgraded façade located in Mt. Airy, North Carolina. 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% 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 completed construction & successfully opened for business in December 2022!
This Dollar General is highly visible as it is strategically positioned on the corner of Mount View Drive and Riverside Drive which sees 3,522 cars per day, and is directly across from Jones Intermediate School. The five mile population from the site is 24,499 while the one mile average household income $77,000 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031exchange 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 5.65% cap rate based on NOI of $112,764.
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Now Open | December 2022
• 2022 BTS Plus Size | Major Façade Upgrades
• 5 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $77,000
• Five Mile Population 24,499
• 3,522 VPD on Mount View Drive & Riverside Drive
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
• Across from Jones Intermediate School
• On Main Thoroughfare into downtown Mount Airy
Instate Broker of Record: Brian Brockman | Bang Realty