Dollar General – Newton Falls, OH
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Newton Falls, Ohio. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 will begin construction soon with rent scheduled to commence in October 2020.
This Dollar General is highly visible as it is strategically positioned on Ridge Road which sees 5,388 cars per day. The ten mile population from the site is 76,674 while the three mile average household income $60,953 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 6.35% cap rate based on the NOI of $98,136.
• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Brand New 2020 BTS Construction
• Adjacent to a Shop N’ Save Anchored Shopping Center
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $60,953
• Ten Mile Population 76,674
• 5,388 Cars Per Day on Ridge Road
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
Instate Broker of Record: Michael J. Fennessy | Dietz Commercial | License 2013001375