Dollar General – Snow Hill, NC
Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Snow Hill, North Carolina. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has completed construction & opened for business in April 2024.
This Dollar General is highly visible as it is strategically positioned on US-13 which sees 11,000 cars per day, on a main thoroughfare. The ten mile population from the site is 25,917 while the three mile average household income is $52,424 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 6.65% cap rate based on NOI of $127,296.
INVESTMENT HIGHLIGHTS
• New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• RARE 5% RENT BUMPS EVERY 5 YEARS!
• 2024 BTS Plus Size Construction | On Main Thoroughfare
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $52,424
• Ten Mile Population 25,917
• 11,000 VPD on US-13 | Adjacent to the Greene County Sports Complex
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
Instate Broker of Record: Brian Brockman | Bang Realty