- Absolute NNN Lease (Zero Responsibilities)
- 15 Year Term | Five (5 Yr.) Options | 10% bumps
- Household Income Within 3 Mile OF $62K
- Ten Mile Population exceeds 3,000
- Corporate Guarantee | “BBB”
Fortis Net Lease is pleased to present this 9,026 SF Dollar General store located in Cottonwood, MN. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease 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. Currently under construction, the rent is scheduled to commence on 7/22/2016.
This Dollar General will be highly visible and as it is strategically positioned on County Road 10, in Cottonwood, MN. Cottonwood offers its inhabitants both the advantages of a small community and the conveniences of a growing town. Known for its hospitality, Cottonwood is a quiet, friendly town that has not lost sight of the values and traditions of the past. Yet the town offers numerous services, is near to larger commercial centers, and possesses a forward looking leadership, allowing Cottonwood to provide its people with the necessities and pleasures of modern life. The 10 mile population from the site exceeds 3,500 while the Three mile average household income exceeds $62,000 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 6.60% cap rate based on NOI of $80,604.