Dollar General – Paragon, IN
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Paragon, Indiana. The property is encumbered with a Fifteen (15) Year Absolute NNN lease, leaving zero landlord responsibilities. The lease contains five (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 currently completing construction with rent scheduled to commence April 1, 2020.
This Dollar General is highly visible as it is strategically positioned on S State Rd 67 which sees 4,827 cars per day. The ten mile population from the site is 32,539 while the three mile average household income is $77,632 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 6.60% cap rate based on NOI of $84,555.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Concrete Parking Lot
• Five (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $77,632
• Ten Mile Population 32,539
• 4,827 Cars Per Day on S. State Road 67
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 32 Consecutive Quarter of Same Store Sales Growth
• No Competition Within 6+ Miles
• Indianapolis MSA
Instate Broker of Record: Maurice G. Harbert | Realty World Company, Inc. | License #C088900146