Dollar General PLUS – Freetown, IN
Fortis Net Lease is pleased to present this 10,480 SF. Dollar General PLUS store located in Freetown, Indiana. The property is encumbered with a Fifteen (15) Year 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 on October 24, 2019.
This Dollar General is highly visible as it is strategically positioned on the hard corner of N Maple Street and SR-135 which sees 1,624 cars per day. The ten mile population from the site is 10,968 while the three mile average household income is $67,496 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 6.60% cap rate based on NOI of $89,439.96.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Plus Size Store Construction | Concrete Parking Lot
• 5 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $67,496
• Ten Mile Population 10,968
• 1,624 Cars Per Day on SR-135
• Investment Grade Dollar Store with “BBB” Credit Rating
• Dollar General Reported 32nd Consecutive Quarter of Same Store Sales Growth
• No Competition Within a 10 Mile Radius
Instate Broker of Record: Gregory A. Harbert | Harbert Company, Inc. | License #C088900146