Dollar General – Swanton OH
Fortis Net Lease is pleased to present this 7,489 SF. Dollar General store located in Swanton, Ohio. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 3 (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 currently open, with rent having commenced on June 24, 2018.
This Dollar General is highly visible as it is strategically positioned on Highway 20 which sees 4,882 cars per day. The ten mile population from the site is 55,173 while the three mile average household income is $80,949 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 6.75% cap rate based on NOI of $79,952.04.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• 3 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $80,949
• Ten Mile Population 55,173
• 4,882 Cars Per Day on Walnut Street
• Investment Grade Dollar Store with “BBB” Credit Rating
• Dollar General Reported 31 Consecutive Quarter of Same Store Sales Growth
• Only Dollar Store Within a 7 Mile Radius
• 0.5 Miles from Holy Trinity Catholic School (148 Students, 13 Teachers)
Instate Broker of Record: Michael J. Fennessy | Dietz Commercial | License # 2013001375