Dollar General
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

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Ben Schultz

Senior Advisor

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PROPERTY ADDRESS

89 E. Main St., Lucas, OH 44843

PROPERTY INFORMATION

Price:
$1,247,466
Cap Rate:
6.75%
Term Remaining:
13+ years Years
Year Built:
2016
Status:
Available

INVESTMENT HIGHLIGHTS

  • Brand New Absolute NNN Lease
  • Zero Landlord Responsibilities
  • 15 Year Term | Four (5 Year) Options
  • One Mile Household Income $44,062
  • Five Mile Population Exceeds 12,000
  • 14 Years Left on Term
  • Only Investment Grade Dollar Store

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Lucas, OH. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. 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 rent commenced on 6/26/2016.

This Dollar General is highly visible and it is strategically positioned on Main St in Lucas. The five mile population from the site exceeds 12,000 while the one mile
median household income exceeds $44,000 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 6.50% cap rate based on NOI of $84,204.