Dollar General – North Salem, IN

$1,747,377
Price
$89,989
Noi
5.15%
Cap Rate
9,100
Leasable Area
2020
Year Built

Fortis Net Lease is pleased to present this 9,100SF. Dollar General store located in North Salem, Indiana. 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 January of 2021.

This Dollar General is highly visible as it is strategically positioned on Main St which sees 2,108 cars per day. The ten mile population from the site is 27,456 while the three mile average household income is $84,435 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the three mile population growth rate at 10.47%. 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 5.15% cap rate based on NOI of $89,989.92.

Copy & paste this link to see portfolio information & other details: t.ly/f63l

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Indianapolis MSA
• The Only Dollar Store Serving the Community!
• BTS 2020 Construction
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $84,435
• Ten Mile Population 27,456 | Expected 7.94% Growth
• Three Mile Population Growth Rate 10.47%
• 2,108 Cars Per Day on Main St
• 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

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OFFERING MEMORANDUM