1681 37th St NE
Larimore, ND 58251
Dollar General | 15Yr Corp Abs NNN Ls · Retail Property For Sale

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building) in a newly constructed, freestanding, corporate guaranteed, absolute NNN, single tenant, Dollar General located in Larimore, North Dakota. The brand new 15-year lease is guaranteed by the corporate company, Dollar General Corp. (NYSE: DG), and has an investment grade rating of BBB from Standard and Poor' s. The lease also features 10% rental increases at the beginning of each 5-year option period, which generates steady NOI growth and hedges against inflation. The location is slated to open around March 1, 2017. The subject property is located along 37th Street Northeast/3rd Ave. NW which is the primary road traveling through the town of Larimore. The property features great street visibility and frontage that will improve consumer traffic and crossover. Dollar General will face limited to no competition in the area and is the only national credit tenant in the town. Further, Larimore is located just 31 miles west of Grand Forks, ND which is the third most populous city in the state. It is serviced by Grand Forks International Airport (GFK). The site will service approximately 2,564 people with an average household income of $69,940 in a 10 mile radius.