Dollar General – North Creek, NY
Fortis Net Lease is pleased to present this brand new 9,100 SF. Dollar General store located in New York in the city of North Creek. This rare upgraded building features exterior Hardy Board siding on wood framing, exterior Stone Knee wall, vaulted ceilings, and no interior columns (offering a clear span). The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 3 (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 and successfully opened for business in mid- December 2022.
This Dollar General is highly visible as it is strategically positioned on NY-28 which sees2,970 cars per day and is only 2.8 Miles from Gore Mountain – the largest ski resort inNew York! It is the only dollar store serving this community (no competition within 14+miles). The ten mile population from the site is 5,265 while the three mile averagehousehold income $63,801 per year, making this location ideal for a Dollar General. TheSubject 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 offera new owner continued success due to the fi nancial strength and the provenprofi tability of the tenant, the nation’s top dollar store. List price refl ects a 5.90% caprate based on NOI of $117,789.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Serves Gore Mountain | Largest Ski Resort in New York | Only 2.5 Miles Away
• Limited Competition | Closest Dollar Store is 14+ Miles Away
• 2022 BTS RARE Upgraded Construction | Wood Framed Building, Vaulted Ceiling, Gable Roof
• Just Opened | December 2022
• 3 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $63,801
• Ten Mile Population 5,265
• 2,970 Cars Per Day | On Main Thoroughfare
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
Instate Broker of Record: Ben Schultz| Fortis Net Lease