Dollar General – Vale, NC
Fortis Net Lease is pleased to present this brand new, upgraded, 10,640 SF. Dollar General PLUS store located in Vale, North Carolina. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 on track for a rent commencement in January 2022.
This Dollar General is highly visible as it is strategically positioned on the corner of Hallman Mill Road and Highway 27 which sees 3,900 cars per day. There are 2 points of ingress/egress making this store conveniently accessible from either road. The ten mile population from the site is 37,434 while the three mile average household income is$73,811 per year, making this location ideal for a Dollar General. The area is seeing great growth with the 3 mile population growth rate at 5.30%. 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 4.85% cap rate based on NOI of $110,820.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Plus Size Store | Upgraded Construction
• Corner Location | Located Near North Brook Elementary School
• 2 Points of Ingress/Egress | Accessible From 2 Streets
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $73,811
• Ten Mile Population 37,434
• Three Mile Population Growth Rate at 5.30%
• 3,900 Cars Per Day on Highway 27
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.