Dollar General – Newport, NC

$1,957,281
Price
$100,800
Noi
5.15%
Cap Rate
9,026
Leasable Area
2019
Year Built

Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Newport, North Carolina. The property offers a Fifteen (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 been open and operating successfully since May of 2019.

This Dollar General is highly visible as it is strategically positioned on NC Highway 24 which sees 23,603 cars per day. The ten mile population from the site is 41,745 while the three mile average household income is $88,902 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the 1 mile population growth rate at 6.29%. 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 5.15% cap rate based on NOI of $100,800.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• BTS 2019 Construction
• On Main Thoroughfare amongst National Retailers
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $88,902
• One Mile Population Growth Rate 6.29%
• Ten Mile Population 41,745 | Expected 3.16% Growth
• 23,603 Cars Per Day on NC Highway 24
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth

 

Instate Broker of Record: Brian Brockman | Bang Realty, Inc.

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

DOWNLOAD LINKS

OFFERING MEMORANDUM