Dollar General – North Vernon, IN
Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in North Salem, Indiana. The property is secured with a 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 is currently open with rent having commenced in July of 2022.
This Dollar General is highly visible as it is strategically positioned on the corner of N County Rd 700 W (seeing 749 cars per day) and Highway 50 which sees 10,641 cars per day. The 10 mile population from the site is 50,745 and the 3 mile average household income is $85,560 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 5.50% caprate based on NOI of $91,062.36.
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2022 BTS Plus Size Construction | Now Open!
• Hard Corner Location | Concrete Parking Lot
• The Only Dollar Store Serving the Community
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $85,560
• Ten Mile Population 50,745 and Expected to Grow
• 10,641 Cars Per Day on Highway 50
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
• No Competition Within 7+ Miles
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.