Dollar General – Parrish, AL
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Parrish, Alabama. The property is encumbered with an Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (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 open with rent having commenced in April 2017.
This Dollar General is highly visible as it is strategically positioned on Highway 269 which sees 6,282 cars per day. The ten mile population from the site is 15,659 while the three mile average household income is $40,799 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 7.0% cap rate based on NOI of $84,018.00.
• Absolute NNN Lease | Zero Landlord Responsibilities
• Concrete Parking Lot
• 5 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $40,799
• Ten Mile Population 15,659
• 6,282 Cars Per Day on Highway 269
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Quarter of Same Store Sales Growth
• Only Dollar Store Within 5 Miles
• 2.2 Miles From Martin High School
• Birmingham, AL Market
InState Broker of Record: Randy Thomas | Ponder Properties Commercial Real Estate LLC | License #53820