Dollar General – Sylacauga, AL
Fortis Net Lease is pleased to present this 9,576 SF. Dollar General store located in Sylacauga, Alabama. The property is encumbered with a Double NN Lease, leaving limited landlord responsibilities. The lease contains 2 (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 and has been a strong retailer in the area for 30 years.
This Dollar General is highly visible as it is strategically positioned on N. Broadway Avenue which sees 9,312 cars per day. The ten mile population from the site is 30,470 while the three mile average household income is $46,139 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 an 8.0% cap rate based on NOI of $42,096.
• Double NN Lease | Minimal Landlord Responsibilities
• 2 (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $46,139
• Ten Mile Population 30,470
• 9,312 Cars Per Day on N. Broadway Avenue
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Quarter of Same Store Sales Growth
• Situated Right in Downtown Sylacauga Among Many National Retailers
• Well Established Tenant with a 30 Year History in Town
• Birmingham MSA