Dollar General – Ruthven, IA
Fortis Net Lease is pleased to present this brand new 9,100 SF. Dollar General store located in Ruthven, Iowa. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 is currently under construction with rent on track to commence 1/18/2021.
This Dollar General is highly visible as it is strategically positioned on the corner of 360th Street & 340th Avenue which sees 4,867 cars per day. The ten mile population from the site is 2,644 while the three mile average household income is $57,932 per year, making this location ideal for a Dollar General. It is the only dollar store serving the community. 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 6.00% cap rate based on NOI of $81,999.96.
• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2020 BTS | Hard Corner Location | Essential Business
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $57,932
• Ten Mile Population 2,644
• 4,867 Cars Per Day at 360th St. & 340th Ave. Intersection
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Only Dollar Store Serving the Community
• No Competition Within 12+ Miles
Instate Broker of Record: Steve Moore | Steve Moore Real Estate