Dollar General – Tioga, ND
Fortis Net Lease is pleased to present this brand new 9,002 SF. corner entry Dollar General store located in Tioga, ND – the oil capital of North Dakota! 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. Construction has completed with the store opening January 2021.
This Dollar General is highly visible as it is strategically positioned on the corner of 2nd St NE and 104th Ave NW which sees 6,845 cars per day. The ten mile population from the site is 2,108 while the three mile average household income is $85,730 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 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 6.00% cap rate based on the NOI of $94,800.
• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 4 (5 Year) Options | 10% Increases At Each Option
• Corner Location | 2021 BTS | Concrete Parking Lot
• Three Mile Household Income $85,730
• Ten Mile Population 2,108
• 6,845 Cars Per Day on 104th Avenue NW
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Only Dollar Store Serving the Community!
• Only 1 Mile from Hess Gas Plant | Major Employer in Area
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.