Dollar General – Salisbury, NC

$1,999,800
Price
$119,988
Noi
6.0%
Cap Rate
9,100
Leasable Area
2020
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 9,100 SF. upgraded Dollar General RELOCATION store located in Salisbury, North Carolina. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 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 is currently under construction with rent scheduled to commence in May 2020.

This Dollar General is highly visible as it is strategically positioned on the corner of Lash Drive and Statesville Blvd (Highway 70) which sees 16,942 cars per day. The five mile population from the site is 47,142 while the one mile average household income $49,765 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 6.0% cap rate based on NOI of $119,988.

INVESTMENT HIGHLIGHTS
• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Upgraded Construction | Full Brick
• Hard Corner Location
• Charlotte MSA
• 4 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $47,142
• Five Mile Population 47,142
• 16,942 Cars Per Day on Statesville Blvd (Highway 70)
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Quarter of Same Store Sales Growth
• Surrounded by local schools with 1,083+ Students (1 mile radius)

Instate Broker of Record: James Wilson | Pulliam Properties, Inc. | License #C3903