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Off Market
1/6

23 Highway 12 East
Bowman, ND 58623


HIGHLIGHTS

  • "Essential Retail" Dollar General | 2019 Construction
  • 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
  • Three Mile Household Income $81,508
  • 4,700 Cars Per Day on US-12
  • Only Dollar Store Serving the Community
  • 4 (5 Year) Options | 10% Increases At Each Option

OVERVIEW

Fortis Net Lease is pleased to present this 9,002 SF. Dollar General store located in Bowman, North Dakota. The property offers a Fifteen (15) Year, Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 off of US-12 (seeing 4,700 VPD) near Highway 85 (seeing 3,930 VPD). The ten mile population from the site is 2,255 while the three mile average household income $81,508 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 6.80% cap rate based on NOI of $99,888. Instate Broker of Record: Jeff Lunnen | Lunnen Real Estate Services | License #9171

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

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TENANCY

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BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

9002

STORIES

1

YEAR BUILT

2019

SPRINKLERS

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PARKING SPACES

15

LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

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APN/PARCEL ID

35-000-306677-000