Dollar General 39603 MS-63 9,244 SF Retail Building Richton, MS 39476 $1,126,640 ($121.88/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- 15 Year Absolute NNN Lease
- 4 (5 Year) Options | 10% Increases At Each Option
- Investment Grade Dollar Store With "BBB" Credit Rating
- Zero Landlord Responsibilities
- 2,370 Vehicles Per Day
- On Main Thoroughfare
EXECUTIVE SUMMARY
Fortis Net Lease is pleased to present this 9,244 SF Dollar General store located in Richton, MS. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease has remaining 4 (5 year) 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 store has been open & operating successfully since June 2019. This Dollar General is highly visible as it is strategically positioned along MS-63 which sees 2,370 vehicles per day. The ten mile population from the site is 3,375 while the ten mile average household income $66,363 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.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
9,244 SF
Year Built
2019
Price
$1,126,640
Price Per SF
$121.88
Cap Rate
7.50%
NOI
$84,499
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
2.27 AC
Frontage
109’ on Mississippi 63
