Dollar General – Wolcottville, IN
Fortis Net Lease is pleased to present this brand new 9,026 SF. Dollar General store located in Wolcottville, Indiana. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease provides a 3% rental rate increase at year 11 and contains 4 (5 Yr.) 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 May 2013.
This Dollar General is highly visible as it is strategically positioned on S. Main Street which sees 7,032 cars per day. The ten mile population from the site is 43,065 while the three mile average household income is $82,683 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 $85,915.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2013 BTS Construction | 7 Years Remaining on Primary Term
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $82,683
• Three Mile Population Growth Rate 4.63%
• Ten Mile Population 43,065
• 7,032 Cars Per Day on S. Main Street
• 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.