702 S Main St, Smithton, IL 62285
- Grocery and convenience stores
- 12,668 SF
Current Use by Public Records
- Grocery and convenience stores
Property Details for 702 S Main St
- Year built
- 2024
- Property type
- Grocery and convenience stores
- Property subtype
- 1031 exchange properties
Description
Fortis Net Lease is pleased to present this brand new 12,668 SF Dollar General Market store located Smithton, IL. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5, 5-year option periods. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is currently under construction and on track to both open & commence rent in early Q3. This Dollar General Market is highly visible as it is strategically positioned off of Main Street, the main regional traffic artery. S. Main Street sees over 9,036 vehicles per day. The 5 mile population from the site is 9,692 while the 5 mile average household income is $90,717 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 small box discount retailer. List price reflects a 6.90% cap rate based on the initial NOI of $151, 968.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Smithton
- County
- St. Clair
- State
- Illinois
- Longitude
- -89.99168
- Latitude
- 38.4014832
