DG Relocation Plus – Carl Junction, MO
Fortis Net Lease is pleased to present this new, retro-fi t 11,661 SF. Dollar General RELOCATION PLUS store located in Carl Junction, Missouri. Dollar General is relocating from a smaller store only a 1/2 mile away where they operated for 25+ years in order to expand its footprint with a larger PLUS store in a proven market! The building is essentially brand new with only the steel frame and portions of sheet metal on the sides reused. The property offers a Ten (10) Year Double Net (NN) Lease, leaving minimal landlord responsibilities, and has a 10% rent increase at year 6 of the primary term. There is a 20-year warranty on the roof that runs through May 2041. There are also warranties on the polished concrete floor and the HVAC unit, although Dollar General is responsible for floor coverings & HVAC per the Lease. The lease contains 2 (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 has completed construction and the store is now open for business (with an opening date of 9/8/2021).
This Dollar General is highly visible as it is strategically positioned on the corner of Grimes Street and E. Pennell Street which sees 4,086 cars per day. The five mile population from the site is 21,082 while the three mile average household income$78,032 per year, making this location ideal for a Dollar General. This area is also seeing steady growth in population with the 1 mile population growth rate at 3.45%. 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 6.05% caprate based on NOI of $84,750.
• 10 Year Double Net (NN) Lease | Minimal Landlord Responsibilities
• RELOCATION PLUS STORE! | 2021 Retrofi t Construction
• RARE 10% Rental Rate Increase in Year 6 of Primary Term
• 20 Yr Roof Warranty | Warranties on Polished Concrete Floor &HVAC (Tenant Responsibilities)
• 2 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $78,032
• Five Mile Population 21,082 | Expected 3.30% Growth
• One Mile Population Growth Rate 3.45%
• 4,086 Cars Per Day on E. Pennell Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.