Dollar General – Parshall, ND
Fortis Net Lease is pleased to present this 2021 BTS, 9,100 SF. Dollar General store located in Parshall, North Dakota. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 & operating successfully since December2021.
This Dollar General is highly visible as it is strategically positioned on 72nd Avenue and is the only dollar store serving the community (no competition within 18+ miles) . The ten mile population from the site is 1,731 while the three mile average household income $109,300 per year, making this location ideal for a Dollar General. This area is seeing steady growth with the 3 mile population growth rate at 3.51%. 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% cap rate based on NOI of $99,996.
• 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2021 BTS Construction
• 4 (5 Year) Options | 10% Increases At Each Option
• Only Dollar Store Serving the Community
• No Competition Within 18+ Miles
• Three Mile Household Income $109,300
• Ten Mile Population 1,731 | Expected 3.12% Growth
• Investment Grade Dollar Store | BBB Credit Rating
• 1,931 Cars Per Day on 72nd Avenue
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.