Dollar General – Peachland, NC
Fortis Net Lease is pleased to present this brand new, upgraded, 10,640 SF. Dollar General PLUS store located in Peachland, North Carolina – part of the Charlotte Market area. The property offers a brand new Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Five (5 Year) options to renew, each with a10% 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 just opened with rent having commenced in February of 2023.
This Dollar General is highly visible as it is strategically positioned off of Andrew Jackson Highway, which sees 17,697 cars per day, on the corner of New York Avenue & Allen Street. It is the only dollar store serving the community. The ten mile population from the site is 21,628 and growing (estimated 5.88% growth), while the three mile average household income is $84,159 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% cap rate based on NOI of $99,936.
INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• BTS 2023 Upgraded Construction Style
• Charlotte NC Market
• Just Opened! | Opened in February 2023
• The Only Dollar Store Serving the Community
• Corner Location | On Main Thoroughfare Connecting Cities
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $84,159
• Ten Mile Population 21,628 | Expected 5.88% Growth
• 17,697 Cars Per Day on Andrew Jackson Highway
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Years of Same Store Sales Growth
• Surrounded by Residential Homes
Instate Broker of Record: Brian Brockman | Bang Realty