Dollar General – Reidsville, NC
Fortis Net Lease is pleased to present this 10,640 SF Dollar General Relocation Plus store located in Reidsville, NC. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The store is classified as a relocation store, proving the success of the local market. The lease contains Five (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 open, with rent having commenced on 8/1/2017.
This Dollar General is highly visible and is strategically positioned in Reidsville, NC. The five mile population from the site exceeds 23,500 residents, while the one mile average household income exceeds $49,300 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 6.40% cap rate based on NOI of $95,208
• Absolute NNN Lease | Zero Landlord Responsibilities
• Relocation Plus Store | Proven Success in Community
• 15 Year Term | Over 12.5 Years Remaining
• 5 (5 Year) Options | 10% Increases at Each Option
• Investment Grade Dollar Store with “BBB” Credit Rating
• Dollar General Reported 31 Consecutive Quarters of Same Store Sales Growth
• One Mile Household Income Exceeds $49,300 Annually
• Five Mile Population Exceeds 23,500 Residents
• Major National Tenants Nearby Include Food Lion, CVS, Wells Fargo, Belk, Subway, O’Reilly Auto Parts, and many more!
Instate Broker of Record: James Wilson | Pulliam Properties | License #C3903