Dollar General – Rockport, IN
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Rpckport, Indiana. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (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 currently under construction with rent commencing in July 2020.
This Dollar General is highly visible as it is strategically positioned on IN-66 which sees 9,311 cars per day. The ten mile population from the site is 48,905 while the three mile average household income is $67,634 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 6.60% cap rate based on NOI of $85,694.76.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• 5 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $67,634
• Ten Mile Population 48,905
• 9,311 Cars Per Day on IN-66 | Located on Main Thoroughfare
• Across From South Spencer High School | 415+ Students
• Investment Grade Dollar Store with “BBB” Credit Rating
• Dollar General Reported 32nd Consecutive Quarter of Same Store Sales Growth
Instate Broker of Record: Maurice G. Harbert | Realty World Harbert Company, Inc. | License #C088900146