Dollar General
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

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Bryan Bender

Partner & Managing Director

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PROPERTY ADDRESS

257 131st Ave. SE, Gwinner, ND 58040

PROPERTY INFORMATION

Price:
$1,131,428
Cap Rate:
7.0%
Term Remaining:
15 Years
Year Built:
2017
Status:
Available

INVESTMENT HIGHLIGHTS

  • Brand New Absolute NNN Lease
  • Rare 3% Bump in Year 11
  • Zero Landlord Responsibilities
  • 15 Year Term | Four (5 Year) Options
  • One Mile Household Income $69,025
  • Ten Mile Population Exceeds 2,500
  • Only Investment Grade Dollar Store

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Gwinner, ND. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The Lease contains a 3% bump in year of 11 of the term. The lease contains Four (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 is open with rent having commenced on 2/6/2017.

This Dollar General is highly visible and is strategically positioned in Gwinner, ND. The ten mile population from the site exceeds 2,500 while the one mile median household income exceeds $69,000 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 7.00% cap rate based on NOI of $79,200.