NNN Leased Dollar General

xThe SVN Colvin Team is pleased to present this Absolute Triple Net Dollar General in a Minnesota Lake resort town. This location is part of a Dollar General portfolio of four locations, three in MN and one in IL. The portfolio has assumable, non-recourse financing that is interest-only. The four locations are available for $5,500,000. Equity required is $2,435,000. The lender already has the phase 1 reports, ALTA surveys, appraisals and other information so the buyer would not be required to pay for new reports, saving about $40,000 in upfront costs! This location opened in October of 2015. The fifteen year base lease term runs to September 30, 2030, plus five renewal periods of five years each, with 10% rent increases in each one. Osakis is located on the south end of the popular Lake Osakis, a 6,300-acre fishing and recreation area with lodges, gift and antique shops, restaurants and family attractions along with many community events and festivals held throughout the year. This Dollar General is located just north of the I-94 Exit on busy Highway 82 and surrounded by commercial and residential. There are over 10,000 people living within a ten mile radius, plus vacation home owners and visitors. Co-listed with MN Broker Of Record SVN Northco.