Dollar General – Vandalia, IL

$1,250,000
Price
$87,631
Noi
7.01%
Cap Rate
15,000
Leasable Area
1994
Year Built

Fortis Net Lease is pleased to present this 10,000 SF. Dollar General store located in Vandalia, Illinois, located in an Opportunity Zone! The property is secured with a Double Net (NN) Lease, leaving minimal landlord responsibilities. Original term was 15 years and Dollar General has extended the term multiple times after having great success in this market. Additionally, there is a 5,000 SF shop space above the Dollar General which can be rented out (estimated rental rate is $1,500/month). The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has been open & operating successfully since 1994.

This Dollar General is highly visible as it is strategically positioned on the hard corner of W Johnson Street, S Third Street, and W Gallatin Street which sees 15,969 cars per day. The ten mile population from the site is 13,765 while the three mile average household income $55,897 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 7.01% cap rate based on NOI of $54,988.

INVESTMENT HIGHLIGHTS
• Located in an Opportunity Zone | 5,000 SF Rentable Vacant Space Above DG
• Capital Expenditures Included New Rooftop AC Units in 2020
• Double Net (NN) Lease | Minimal Landlord Responsibilities
• Hard Corner Location | 6 Years Remaining in Primary Term
• Primary Term Extended Proving Success in the Market
• Three Mile Household Income $55,897
• Ten Mile Population 13,765
• 15,969 Cars Per Day on S Third Street and W Gallatin Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• St Louis, MO-IL Market Area

Instate Broker of Record: Eli Schultz | Fortis Net Lease

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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