Building Details

Tenancy Single

Listing Agency: Fortis Net Lease b***@fortisnetlease.com Show Phone

Listed By: Bryan Bender · License #MI 6501319610

Source: Crexi

Added: Apr 10 Changed: Aug 8 Last Checked: Jul 21 at 1:52AM

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Investment Insights

Based on property information with market context.

Fortis Net Lease offers a 7,500 SF Dollar General store in Portland, AR, currently under construction. The site is being delivered with a full concrete parking lot. The property is encumbered by a Fifteen (15) Year Absolute NNN lease designed to leave zero landlord responsibilities.

Rent is scheduled to commence in December 2018. The lease includes four (5) year renewal options with a 10% rental rate increase. Dollar General Corporation provides the corporate guarantee, and the tenant is described as having a “BBB” credit rating (Investment Grade).

The offering is presented for investors seeking fee simple ownership. The remarks indicate the lease term and financial strength of the tenant underpin the investment thesis, and the listed price reflects a 6.90% cap rate based on NOI of $78,201.

Key Highlights

• 7,500 SF Dollar General store located in Portland, AR, currently under construction
• 15‑year absolute NNN lease with zero landlord responsibilities
• Dollar General corporate guarantee by Dollar General Corporation (BBB investment grade credit rating)

Property Analytics

Property Profile

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Auto Repair Shop Pharmacy Building Supply Hair Salon Nail Salon Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

44

Businesses Nearby

3k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

2,662 visits/mo 0.1 miles

Demographics for 71663, AR

572

Population

234

Households

2.4

Avg Household Size

47

Median Age

12%

College-Educated

90%

High-School Grad

81.8 sq mi

ZIP Area

7

Density / Sq Mi

$45,833

Median Household Income

$39,000

Median Earnings

$620

Median Rent

$64,900

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Dollar General store under construction with a 15-year absolute NNN lease and full concrete parking lot.

Where is this grocery and convenience store located?

The property is located at 305 Hwy 165 N Portland, AR.

What are key features of this property?

This property features: 7,500 SF Dollar General store located in Portland, AR, currently under construction; 15‑year absolute NNN lease with zero landlord responsibilities; Dollar General corporate guarantee by Dollar General Corporation (BBB investment grade credit rating)