Dollar General – Tyner, NC
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Tyner, North Carolina. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains five (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 recently completed construction with rent commencing in January 2020.
This Dollar General is highly visible as it is strategically positioned on the corner of Virginia Rd and Rocky Hock Rd which sees 2,000 and 1,300 cars per day respectively. The ten mile population from the site is 15.162 while the three mile average household income is $57,804 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 6.35% cap rate based on NOI of $93,768.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Five (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $57,804
• Ten Mile Population 15,162
• Corner Lot See 2,300 Cars Per Day
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 33 Consecutive Quarter of Same Store Sales Growth
• No Competition Within 6+ Miles
Instate Broker of Record: James Wilson | Pulliam Properties, Inc. | License # C3903