Dollar General – Steens, MS
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Steens, Mississippi. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities, with 10 years remaining on the primary term. The lease contains 5 (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. This store has been open and successfully operating since August of 2017. It performs in the top 35% of all Dollar General stores in the US!
This Dollar General is highly visible as it is strategically positioned on M-12 E (Military Road) which sees 5,820 cars per day. The ten mile population from the site is 51,375 while the three mile average household income is $81,530 per year, making this location ideal for a Dollar General. 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 5.50% cap rate based on the NOI of $75,547.80.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 5 (5 Year) Options | 10% Increases At Each Option
• Store Performs in the top 35% of all Dollar Generals in the US(5,435/15,437)
• Concrete Parking Lot | 10 Years Remaining on Primary Term
• Three Mile Household Income $81,530
• Ten Mile Population 51,375
• 5,820 Cars Per Day on Military Road
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• No Competition Within 6+ Miles!
• 10 Miles from Columbus Air Force Base
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.