Fortis Net Lease is pleased to present this brand new 9,856 SF. Dollar General store located in Pecos, Texas in a strip center with 3 other tenants (DG also uses an area for storage purposes so full space SF is around 15,210). The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains One (5 year) option to renew with a 15% 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 has been operating successfully since rent commenced in 1999.
This Dollar General is highly visible as it is strategically positioned on S. Eddy Street which sees 10,251 cars per day. It is surrounded by residential homes & local businesses. The ten mile population from the site is 12,263 while the three mile average household income $76,391 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 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 8.58% cap rate based on NOI of $34,221.
Cooperating Broker: Brian Brockman | Bang Realty