Dollar General – NC – Troutman
Fortis Net Lease is pleased to present this brand new, upgraded, 10,640 SF. Dollar General PLUS store with upgraded architectural style located in Troutman, North Carolina – part of the Charlotte Market area. The property offers a brand new Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains five (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 is under construction with rent and store opening on track for September 2023.
This Dollar General is highly visible as it is strategically positioned just off of the I-77 exit (seeing 62,900 cars per day) on Charlotte Highway (seeing 13,429 cars per day). It sits adjacent to a Bojangles (the #2 ranked Bojangles within a 15 mile radius) and directly across from a Lowes Home Improvement store. There are many large residential developments immediately surrounding the site. The five mile population from the site is 30,734 and growing (estimated 13.47% growth), while the one mile average household income is $71,796 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 5.60% caprate based on NOI of $157,344.
INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• BTS 2023 Upgraded Construction Style | Plus Size
• Charlotte North Carolina Market
• Located Just Off I-77 Exit | 62,900 VPD
• 5 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $71,796
• Five Mile Population 30,734
• Huge Population Growth Area / 5 Mile Expected 13.47%
• 13,429 Cars Per Day on Charlotte Highway
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Years of Same Store Sales Growth
• Adjacent to Bojangles Ranking #2 within a 15 Mile Radius (2/8)
• Across From Lowes Home Improvement Store
• Surrounded by Many New Housing Developments
Instate Broker of Record: Brian Brockman | Bang Realty