Dollar General – Salton City, CA
Fortis Net Lease is pleased to present this brand new 9,026 SF. Dollar General store located in Salton City, California. The property offers a 15 year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains three (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 preparing to begin construction with rent on track to commence 3/20/2021.
This Dollar General is highly visible as it is strategically positioned on the Highway 86 Service Road, just off of Highway 86 which sees 15,483 cars per day. This is the main thoroughfare for people traveling from either end of the Salton Sea and it connects the two communities. The ten mile population from the site is 12,321 while the three mile average household income is $57,683 per year, making this location ideal for a Dollar General. This area is also seeing higher growth with the five mile population growth rate at 4.61%. 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 5.75% cap rate based on NOI of $159,516.
• Absolute NNN Lease | Zero Landlord Responsibilities
• Immediately Adjacent to Family Dollar | Only 6.7 Miles from Red Earth Casino
• Brand New 2021 Construction | On Main Thoroughfare
• Located Between Two Communities on Both Ends of Salton Sea
• Three (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $57,683
• Five Mile Population Growth 4.61%
• Ten Mile Population 12,321
• 15,483 Cars Per Day on Highway 86
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
Instate Broker of Record: Paul Bonanno | Net Lease Realty Partners, Inc. | License # 01909616