Dollar General – Wakarusa, IN
Fortis Net Lease is pleased to present this brand new 9,100 SF. Dollar General store located in Wakarusa, IL. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains a 3% rental rate increase in year 11 and 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 has been open and operating since June of 2012.
This Dollar General is highly visible as it is strategically positioned on the corner of Napanee Street and Kemar Street near E. Waterford Street which sees 7,863 cars per day. The ten mile population from the site is 118,677 while the three mile average household income $84,046 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 6.50% cap rate based on NOI of $97,079.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2012 BTS Construction | 6.25 Years Remaining on Primary Term
• Located on Hard Corner | Near E. Waterford St Seeing 7,863 VPD
• 3% Rent Increase in Year 11 of Primary Term
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $84,046
• Ten Mile Population 118,677
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.