220 W High St Potosi, MO 63664

Building Details

Year Built

2024

Listing office Fortis Net Lease

Listing date Aug 7, 2024

Source Crexi

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Investment Insights

Based on property information with market context.

This is a brand new 10,640 square foot Dollar General Plus store located in Potosi, Missouri. Dollar General Plus stores are a larger prototype, allowing them to carry additional items. The property is secured with a 15-year absolute net lease with zero landlord responsibilities. The lease contains 5% rent increases every 5 years, including at each of the five-year options to renew. The lease is corporately guaranteed by Dollar General Corporation, which holds a credit rating of "BBB", classified as investment grade. The store is currently under construction, with rent and store opening on track for Q3 2024. This Dollar General Plus store is highly visible and strategically positioned off W High Street, which serves as the major traffic artery in the area. The corner lot provides visibility to over 9,639 vehicles per day. The five-mile population from the site is 9,540, while the five-mile average household income is $52,536 per year. This property represents an opportunity for a 1031 exchange buyer or a passive investor to attain the fee simple ownership of Dollar General. The list price reflects a 6.90% cap rate based on the initial NOI of $146,486.

Key Highlights

• 15‑year absolute net lease with zero landlord responsibilities.
• Corporate guarantee by Dollar General Corporation (BBB Investment Grade credit rating).
• New 10,640sf Dollar General Plus store (larger prototype).

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FAQs

What type of property is this?

Grocery and convenience store - New Dollar General Plus store in Potosi, Missouri.

Where is this grocery and convenience store located?

The property is located at 220 W High St Potosi, MO.

What is the asking price?

The asking price for this property is $2,122,982.

What are key features of this property?

This property features: 15‑year absolute net lease with zero landlord responsibilities.; Corporate guarantee by Dollar General Corporation (BBB Investment Grade credit rating).; New **10,640sf Dollar General Plus store** (larger prototype).