Dollar General – St. Louis, MO

$1,601,351
Price
$91,277
Noi
5.70%
Cap Rate
7,933
Leasable Area
2021
Year Built

Fortis Net Lease is pleased to present this 7,933 SF. retrofit Dollar General store located in St. Louis, Missouri. This all brick building was a former Family Dollar store and although the store experienced above average sales, there are 9 (Dollar Tree/Family Dollar) stores within a 5 mile radius and thus, corporate chose to shutter the store. The property offers a Ten (10) Year Double Net (NN) Lease, leaving minimal 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 under construction with rent on track to commence in January of 2022.

This Dollar General is highly visible as it is strategically positioned on the corner of E. Schirmer St. and S. Broadway which sees 7,405 cars per day. It sits only 1.5 miles from the River City Casino Hotel which has 90,000 SF of gaming. The five mile population from the site is 233,066 while the one mile average household income is $54,757 per year, making this location ideal for a Dollar General. The consumer spending within a 5mile radius is $2.8 Billion! The Subject offering represents an ideal opportunity for a 1031exchange 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 5.70% cap rate based on the NOI of $91,277.00.

INVESTMENT HIGHLIGHTS
• New 10 Year Double Net (NN) Lease | Minimal Landlord Responsibilities
• 4 (5 Year) Options | 10% Increases At Each Option
• Retrofit Construction | Former Family Dollar
• One Mile Household Income $54,757
• Five Mile Population 233,066
• Five Mile Consumer Spending $2.8 Billion
• 7,405 Cars Per Day on S Broadway
• Located 1.5 Miles from River City Casino Hotel | 90K SF of Gaming
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Straight Years of Same Store Sales Growth

Instate Broker of Record: Brian Brockman | Bang Realty, Inc.

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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