Overview

Description

Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General Plus store located in Shelby, Michigan. 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) options to renew. 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 with rent & store opening on track for February 2024.

This Dollar General is highly visible as it is strategically positioned on the corner of SW Shelby Road & S 58th Street just off of the exit from Highway 31, which sees 13,781 cars per day. It is only a 13 minute drive to the very popular Silver Lake State Park & Sand Dunes! The 10 mile population from the site is 16,873 while the 3 mile average household income is $60,448 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 6.50% initial cap rate based on NOI of $102,196.

Highlights

• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 5% RENT INCREASES EVERY 5 YEARS!!
• Corner Location | Off of Highway 31 Exit Seeing 13,781
• 13 Minute Drive to Silver Lake State Park & Sand Dunes | Popular Tourist Area
• 2024 BTS Plus Size | Plus Size Design
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $60,448
• Ten Mile Population 16,873
• Investment Grade Dollar Store With "BBB" Credit Rating

Documents

---