15 Year Absolute NNN Dollar General Plus | 3 Mile Household Income $92,637 | Rent Bumps! | FOR SALE

Highlights:

• New 15 year Absolute NNN lease
• Zero landlord responsibilities
• 5% RENTAL RATE INCREASES EVERY 5 YEARS!
• Seeing 3,768 cars per day
• 2023 BTS plus size | Plus size construction
• 5 (5 year) options | 5% increases at each option
• Three mile household income $92,637
• Ten mile population 41,101
• Investment grade Dollar Store with BBB credit rating
• Concrete parking lot

Description:

Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Sturgis, 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 classied as Investment Grade. The store completed construction & successfully opened for business in September 2023.

This Dollar General is highly visible as it is strategically positioned on M-86 which sees 3,768 cars per day. The 10 mile population from the site is 41,101 while the 3 mile average household income is $92,637 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 nancial strength and the proven protability of the tenant, the nation’s top small box discount retailer. List price reects a 6.75% cap rate based on NOI of $100,635.

Documents: