Dollar General Relocation Plus | Rent Increases!

Highlights:

• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• RELOCATION PLUS STORE! | 2022 BTS Construction
• 5% RENTAL RATE INCREASES EVERY 5 YEARS!
• Hard Signalized Corner Location
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $64,986
• Ten Mile Population 17,883
• 10,718 Cars Per Day at N Greenfield Rd and State Route 46
• Investment Grade Dollar Store With "BBB" Credit Rating
• On the Same Corner as a McDonalds, Gas Station, Church & Bank
• On Main Thoroughfare | Situated Near the Local Schools
• Dollar General Corporate Guaranty

Description:

Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General RELOCATION PLUS store located in Lakeview, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate 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 open & operating successfully with rent having commenced in April 2022.

This Dollar General is highly visible as it is strategically positioned on the signalized corner of N Greenfield Rd and State Route 46 which sees 10,718 cars per day. The ten mile population from the site is 17,883 while the three mile average household income $64,986 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 retailer. List price reflects a 6.75% cap rate based on NOI of $101,792.

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