Dollar General Plus – Pitts, GA

$1,749,308
Price
$93,588
Noi
5.35%
Cap Rate
10,640
Leasable Area
2021
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this brand new construction, upgraded design, 10,640 SF. BTS Dollar General PLUS store located in Pitts, Georgia. 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 is preparing for construction, with rent commencing in October of 2021.

This Dollar General is highly visible as it is strategically positioned on the corner of Powell Road and Highway 280 which sees 2,848 cars per day. The ten mile population from the site is 6,328 while the three mile average household income is $66,850 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 5.35% cap rate based on NOI of $93,588.

INVESTMENT HIGHLIGHTS
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Brand New BTS Construction | Upgraded PLUS SIZE Design
• 4 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $66,850
• Ten Mile Population 6,328
• 2,848 Cars Per Day on Highway 280
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• On Main Thoroughfare Connecting Communities
• No Competition Within 9+ miles!
• Surrounded by Residential Homes Only Dollar Store Serving the Community

Instate Broker of Record: Brian Brockman | Bang Realty, Inc.