Dollar General – Sandstone, MN
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Sandstone, Minnesota. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (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 open, with rent having commenced on 7/22/2020.
This Dollar General is highly visible and is strategically positioned on Ashley Street and Main Street which sees 3,957 cars per day. The ten mile population from the site is 9,657 while the three mile average household income is $55,746 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 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 5.85% cap rate based on NOI of $88,200.
• New Absolute NNN Lease | Zero Landlord Responsibilities
• 2020 BTS Construction | Store Opened in November
• Four (5 Year) Options | 10% Rental Rate Increase at Each
• 3,957 Cars Per Day on Main Street
• Three Mile Household Income $55,746
• Ten Mile Population 9,657
• Dollar General announced 30 Straight Years of Same Store Sales Growth
• Only Dollar Store Serving the Community
• Large Grocery Store Adjacent | On Main Thoroughfare into Town