Dollar General – Pipestone, MN
Fortis Net Lease is pleased to present this brand new 9,002 SF. Dollar General store located in Pipestone, Minnesota. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 3 (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 has been open and operating since February of 2014.
This Dollar General is highly visible as it is strategically positioned on 11th Avenue SW just off of S. 7th Street SW which sees 4,736 cars per day. The ten mile population from the site is 6,063 while the three mile average household income $57,671 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 6.50% cap rate based on NOI of $85,518.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2014 BTS Construction | Concrete Parking Lot
• Over 8.5 Years Remaining on Primary Term
• 3 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $57,671
• Ten Mile Population 6,063
• 4,736 Cars Per Day on 7th Street SW
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
InState Broker of Record: Brian Brockman | Bang Realty, Inc.