Dollar General – Ruthven, IA

$1,366,666
Price
$81,999.96
Noi
6.00%
Cap Rate
9,100
Leasable Area
2020
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

DOWNLOAD LINKS

OFFERING MEMORANDUM

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.

INVESTMENT HIGHLIGHTS
• 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