Dollar General

Iron River is a town in Bayfield County, Wisconsin. It is a friendly town with great people. It is a perfect place to plan your vacation in the beautiful area and enjoy this natural paradise! Explore the Iron River Area and discover why it is the recreation playground of the North. Enjoy 96 Lakes,12 Trout Streams, 4 Rivers, 500 miles of groomed ATV trails, Chequamegon National Forest, North Country Hiking Trail and many more great hiking trails, Camba Mountain Biking Trail System, Skiing, Snowshoeing, Dog Sledding, Waterfalls, Fishing, Birding, Berry Picking, Wildlife and Summer Sunsets. Relaxing Lakeside Resorts and Vacation Rental Homes plus Great Shopping & Area Dining. Iron River holds many community events throughout the year. The Iron River Lion's Club sponsors the annual Blueberry Festival at Moon Lake Park in July. The festival includes rides, crafts, food and games. The Bayfield County Fair takes place annually in August and includes grandstand shows, exhibitions and carnival rides.Fortis Net Lease is pleased to present this corner entry 9,100 SF Dollar General store located in Iron River, WI. The property is secured with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Five (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has been open & operating successfully since the end of March 2020. This Dollar General is highly visible and is strategically positioned on the hard corner of US Highway 2, which sees 6,513 cars per day, accessible by both Oneida Street and Front Street. The ten mile population from the site is 3,577 while the three mile average household income is $68,779 per year, making this location ideal for a Dollar General. The area is experiencing great growth with the 3 mile population growth rate at 10.79%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a 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 dollar store. List price reflects a 7.00% cap rate based on NOI of $89,900.04.