324 US Highway 59
Mahnomen, MN 56557
Dollar General | Mahnomen, MN · Retail Property For Sale

The lease structure is triple net (NNN), with zero landlord responsibilities. Tenant is responsible for maintaining, repairing, and replacing all aspects of the property, as well as all required insurances, taxes, and utilities. This investment is located in a rare Opportunity Zone established in the Tax Cut and Jobs Act of 2017. Opportunity Funds allow U.S. investors to receive tax benefits by funding development projects located in Opportunity Zones. Although this property does not qualify for these tax benefits, the designated zone itself may spur development in the surrounding area. There are twelve (12.6) years remaining on the lease term, plus five (5), five (5) year options. The lease provides for 10% rental increases at each option period. The lease is corporately guaranteed by Dollar General Corporation, which has an investment grade credit rating of BBB (S&P). This location was recently constructed in 2016. Dollar General is surrounded by several popular retailers including Shopko, True Value, Napa Auto Parts and Subway, among others. The City of Mahnomen has a limited amount of retail within the city limits. Dollar General serves as the go-to store for surrounding residents. The next closest Dollar General is 28 miles (34 minutes) from the subject property. The City of Mahnomen serves not only as the seat of Mahnomen County, but also as a trade, health, education, recreation and tourism center for those living within a 40-mile radius. The Shooting Star Casino, Hotel and Entertainment, is the premier entertainment destination in the Midwest. Shooting Star is home to Las Vegas-style gaming, big name concerts, award-winning dining, soothing spa treatments, shopping and luxurious accommodations and nearly 30,000 square feet of event/meeting space. The Casino is located just 0.8 miles (3 miles) from the subject property.