New Dollar General Plus | Five Mile Pop. 34,114

Highlights:

• 15 Year Absolute NNN Lease | 13 Yrs Remaining on Primary Term
• Zero Landlord Responsibilities
• 5% Rent Increases Every 5 Years during the Primary Term!
• Seeing 11,101 Cars Per Day
• 2023 BTS Plus Size | Plus Size Construction
• 5 (5 Year) Options | 5% Increases At Each Option
• One Mile Household Income $55,911
• Five Mile Population 34,114
• Investment Grade Dollar Store With "BBB" Credit Rating
• Concrete Parking Lot

Description:

Fortis Net Lease is pleased to present this 10,640 SF. Dollar General Plus store located in Niles, 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 completed construction & successfully opened for business in October 2023.

This Dollar General is highly visible as it is strategically positioned on E Main Street which sees 11,101 cars per day. The 5 mile population from the site is 34,114 while the 1 mile average household income is $55,911 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 6.60% cap rate based on NOI of $113,389.32.

Documents: