Dollar General – Neapolis, OH
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Neapolis, Ohio. The property offers an an Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains four (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 under construction with rent scheduled to commence in September 2020.
This Dollar General is highly visible as it is strategically positioned on the corner of Hawthorne Street and Neapolis Waterville Road which sees 1,987 cars per day. The ten mile population from the site is 60,687 while the three mile average household income is $90,833 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 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 6.50% cap rate based on NOI of $88,704.
• Absolute (NNN) Lease | Zero Landlord Responsibilities
• Four (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $90,833
• Ten Mile Population 60,687
• 1,987 Cars Per Day on Neapolis Waterville Road
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Toledo MSA
• Only Dollar Store Within 6 Miles
• Only 0.5 Miles from Majestic Oak Winery & Neon Groundhog Brewery
Instate Broker of Record: Michael J. Fennessy | Dietz Commercial | License # 2013001375