Dollar General – Reinbeck, IA
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Reinbeck, Iowa. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (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 has been open and operating successfully since January of 2021.
This Dollar General is highly visible as it is strategically positioned on Grundy Ave which sees 3,290 cars per day. The ten mile population from the site is 10,411 while the three mile average household income is $87,234 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 5.15% cap rate based on NOI of $88,400.04.
Click for more details: https://t.ly/28StorePortfolio
• 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2020 BTS Construction
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $87,234
• Ten Mile Population 10,411
• 3,290 Cars Per Day on Grundy Ave
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• No Competition Within 10+ Miles!
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.