Absolute NNN Lease Dollar General Plus

Highlights:

• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 5% Rent Increases Every 5 Years during the Primary Term!
• Corner Location | 5,201 VPD
• 2024 BTS Plus Size | Plus Size Construction
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $63,758
• Ten Mile Population 10,703 and Growing
• Investment Grade Dollar Store With "BBB" Credit Rating
• The Only Dollar Store Serving the Community!
• Off a Main Thoroughfare for Convenient Access

Description:

Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General Plus store located in Chase, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. It is the only dollar store serving the community! 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 has completed construction and successfully opened for business in June 2024.

This Dollar General is highly visible as it is strategically positioned on the corner of S Saddler Road and Highway 10 which sees 5,201 cars per day. It is on a main thoroughfare connecting cities. The 10 mile population from the site is 10,703 while the 3 mile average household income is $63,758 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 6.75% cap rate based on NOI of $126,067.08.

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