Dollar General – Wayne City, IL
Fortis Net Lease is pleased to present this 9,026 SF. Dollar General store located in Wayne City, Illinois. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities, with 6 years remaining on the primary term. The lease contains 4 (5 Year) options to renew, each with a 10% rental rate increase. There is a 3% rental rate increase in Year 11. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. This store has been open and successfully operating since December of 2011.
This Dollar General is highly visible as it is strategically positioned on W. Robinson Ave. which sees 3,802 cars per day. The ten mile population from the site is 5,415 while the three mile average household income is $57,500 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 $84,502.92.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 3% Rental Rate Increase at Year 11
• 4 (5 Year) Options | 10% Increases At Each Option
• Concrete Parking Lot | 5.5 Years Remaining on Primary Term
• Three Mile Household Income $57,500
• Ten Mile Population 5,415
• 3,802 Cars Per Day on W. Robinson Ave.
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Only Dollar Store Serving the Community!