Dollar General – Portsmouth, OH
Fortis Net Lease is pleased to present this 2019 BTS 9,100 SF. Dollar General store located in Portsmouth, Ohio. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 3 (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 currently open and has been operating successfully since September of 2019.
This Dollar General is highly visible as it is strategically positioned on US-23 which sees 13,755 cars per day. The five mile population from the site is 32,158 while the one mile average household income is $69,493 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 5.65% cap rate based on NOI of $104,993.73.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2019 BTS | Adjacent to McDonald’s | Essential Business
• 3 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $69,493
• Five Mile Population 32,158
• 13,755 Cars Per Day on US-23
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Surrounded by Residential, Hotels, and National Tenants
• On Main Thoroughfare Connecting Communities
Instate Broker of Record: Michael J. Fennessy | Dietz Commercial | License #2013001375