Overview

Description

Fortis Net Lease is pleased to present this brand new 12,480 SF. Dollar General Market store located in Hale, Michigan. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. 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 March 2024.

This Dollar General Market is highly visible as it is strategically positioned off of M-65 which sees 5,280 cars per day. The 10 mile population from the site is 10,189 while the 3 mile average household income is $48,981 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% cap rate based on the initial NOI of $129,904.

Highlights

• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 5% RENT INCREASES EVERY 5 YEARS!!
• Popular Tourist Area | Summer & Winter Activities
• Dollar General Market | Produce and Fresh Meats
• 5,280 Cars Per Day | On Main Thoroughfare
• 2024 BTS Plus Size | Market Prototype
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $48,981
• Ten Mile Population 10,189
• Investment Grade Dollar Store With "BBB" Credit Rating

Documents

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