Dollar General – Thompson, ND
Fortis Net Lease is pleased to present this 2022 BTS 9,026 SF. Dollar General store located in Thompson, North Dakota. It is adjacent to a Northland Oil Gas Station. The property offers a brand new Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 commencement on track in mid August 2022.
This Dollar General is highly visible as it is strategically positioned on Broadway Street which sees 3,095 cars per day, just off of the I-29 exit, which sees 11,969 cars per day. The ten mile population from the site is 36,958 while the three mile average household income $99,164 per year, making this location ideal for a Dollar General. This area is seeing good growth with the 3 mile population growth rate at 5.60%. 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 5.35% cap rate based on NOI of $83,004.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2022 BTS Construction | Adjacent to Northland Oil Gas Station
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $99,164
• Ten Mile Population 36,958
• Three Mile Population Growth Rate 5.60%
• 3,095 VPD on Broadway Street | 11,969 VPD on I-29/Hwy 81
• Investment Grade Dollar Store | BBB Credit Rating
• The Only Dollar Store Serving the Community!
• No Competition Within 10+ Miles
• Convenient Access to I-29/Highway 81 | Just off Exit
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.