Dollar General – Russell, KS
Fortis Net Lease is pleased to present this brand new 9,002 SF. Dollar General store located in Russell, Kansas. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains a 3% rent increase at year 11 and offers 4 (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 been open and operating since May of 2014.
This Dollar General is highly visible as it is strategically positioned on N. Fossil which is the main thoroughfare running through the town The ten mile population from the site is 5,377 while the three mile average household income is $57,797 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 6.50% cap rate based on NOI of $75,096.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2014 BTS Construction | 8 Years Remaining on Primary Term
• Concrete Parking Lot
• 3% Rental Rate Increase at Year 11
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $57,797
• Ten Mile Population 5,377
• Located on Main Thoroughfare | Near Local High Schools
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.