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PROPERTY ADDRESS
37 Nandina Dr., Sumter, SC 29153
PROPERTY INFORMATION
INVESTMENT HIGHLIGHTS
- Built to Suit 9,014 SF Dollar General Store
- NN 15 Year Lease with Minimal Landlord Responsibilities
- Five, Five Year Options | 10% Rent Increases at Each Option
- Corporate Guarantee | “BBB” S&P Rating
- 3% bump in year 11 of base primary term
- Concrete Parking Lot
INVESTMENT SUMMARY
Fortis Net Lease is pleased to present this 9,014 SF Dollar General store located in Sumter, SC. The property is encumbered with a Fifteen (15) Year NN Lease, leaving minimal landlord responsibilities. The lease has a 3% bump in year 11 of the primary term, The lease also contains Five (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. This Dollar General is highly visible as it is strategically positioned on the corner of Nandina & N Main St. The landlord is responsible for the capital repair and replacement to the roof, structure, and parking lot.
The five mile population from the site exceeds 50,000 while the one mile median household income exceeds $31,000 per year, making this lo-cation ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to at-tain the fee simple ownership of a brand new 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 7.70% cap rate based on NOI of $72,711.