Dollar General – Pecos, TX
Fortis Net Lease is pleased to present this brand new 9,856 SF. Dollar General store located in Pecos, Texas in a strip center with 3 other tenants (DG also uses an area for storage purposes so full space SF is around 15,210). The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains One (5 year) option to renew with a 15% 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 operating successfully since rent commenced in 1999.
This Dollar General is highly visible as it is strategically positioned on S. Eddy Street which sees 10,251 cars per day. It is surrounded by residential homes & local businesses. The ten mile population from the site is 12,263 while the three mile average household income $76,391 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 8.58% cap rate based on NOI of $34,221.
INVESTMENT HIGHLIGHTS
• Double Net (NN) Lease | Minimal Landlord Responsibilities
• 4 Years Remaining on Primary Term
• Ownership Consists of the Dollar General & Parking Lot in Front of DG
• UPDATES INCLUDE: New Roof in 2020, New Paving in 2017, New HVAC in 2016
• One (5 Year) Options | 15% Increase at Option
• Three Mile Household Income $76,391
• Ten Mile Population 12,263
• 10,251 Cars Per Day on S. Eddy Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Only 2 Miles from the Pecos Municipal Airport
Instate Broker of Record: Brian Brockman | Bang Realty