- Brand New Absolute NNN Lease
- 15 Year Term | Four (5 Year) Options
- Three Mile Household Income $33,107
- Ten Mile Population Exceeds 1,100
- Rare 3% Rent Increase in Year 11
- Zero Competition
- Only Investment Grade Dollar Store
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Eureka, SD. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains a rare 3% rent increase in year 11 of the primary 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. Construction is under way, with the rent anticipated on 11/26/2017.
This Dollar General is highly visible as it is strategically positioned in Eureka, SD. The ten mile population from the site exceeds 1,100 while the three mile median household income exceeds $33,100 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 6.75% cap rate based on NOI of $84,360.