Dollar General – Oliveburg, PA
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Oliveburg, Pennsylvania. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 2 (5 year) and 1 (4 year and 11 months) 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 on June 24, 2018.
This Dollar General is highly visible as it is strategically positioned on PA-36 which sees 3,800 cars per day. The ten mile population from the site is 22,108 while the three mile average household income is $51,491 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 a 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 6.65% cap rate based on NOI of $99,944.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• 2 (5 Year) & 1 (4 Year 11 Months) Options to Renew | 10% Rental Increases
• Three Mile Household Income $51,941
• Ten Mile Population 22,108
• 3,800 Cars Per Day on PA-36
• Only 4 Miles From Punxsutawney, PA – a Huge Tourist Attraction with Estimates of 20-25,000 Tourists Visiting Each Year for Groundhog Day
• Investment Grade Dollar Store with “BBB” Credit Rating
• Dollar General Reported 31 Consecutive Quarter of Same Store Sales Growth
Instate Broker of Record: Jason Wolf | Wold Commercial Real Estate | License # RM422074