Dollar General – Wicomico Church, VA
Fortis Net Lease is pleased to present this brand new 10,566 SF Dollar General store located in Wicomico Church, Virginia. The property is secured with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Five (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 under construction with rent &store opening on track for October 2023.
This Dollar General is highly visible and is strategically positioned off of Jessie Dupont Memorial Highway, which sees 4,706 cars per day. The ten mile population from the site is 15,275 while the three mile average household income is $115,598 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 a 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 6.25% cap rate based on NOI of $126,955.44.
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities | Opening in October
• Located in the Richmond-Petersburg Designated Market Area
• 2023 BTS Plus Size Construction
• Five (5 Year) Options | 10% Rental Rate Increase at Each
• 4,706 Cars Per Day on Jessie Dupont Memorial Highway
• Three Mile Household Income $115,598
• Ten Mile Population 15,275
• Corporate Guaranty | BBB Investment Grade Tenant
• Located on Main Thoroughfare Connecting Cities
• The Only Dollar Store Serving the Community!
Instate Broker of Record: Brian Brockman | Bang Realty