Dollar General – Whitewater, WI
Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Whitewater, Wisconsin. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years including at each of the 5 (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 is currently open & operating successfully with rent having commenced in March 2023.
This Dollar General is highly visible as it is strategically positioned on the roundabout corner of Elkhorn Road & Bluff Road which sees 7,740 cars per day. It sits in a limited competition area with the next dollar store 9 miles away. Only 2 miles from the store is the campus for The University of Wisconsin-Whitewater. The ten mile population from the site is 40,581 while the three mile average household income $59,855 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 6.75% cap rate based on NOI of $99,552.
INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 5% RENTAL RATE INCREASES EVERY 5 YEARS!
• 2023 BTS Construction | Plus Size Footprint
• Only 2 Miles from The University of Wisconsin – Whitewater
• Upgraded Architectural Design
• Roundabout Corner Location | 7,740 ADTC
• 2 Points of Ingress/Egress | Accessible from 2 Streets
• Limited Competition Area | Next Dollar Store 9 Miles Away
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $59,855
• Ten Mile Population 40,581
• Investment Grade Dollar Store With “BBB” Credit Rating
• Dollar General Corporate Guaranty | 20,000+ Stores