Brand New Dollar General with Rent Bumps!
$1,965,015
15000 Manitou Road, Rollin Township, MI 49253
6.7
Cap Rate
131,656
NOI
Details:
Highlights:
- Brand New 15 Year Absolute NNN Lease
- Zero Landlord Responsibilities
- 2025 BTS Construction | Corner Location
- 5% Rental Rate Increases Every 5 Years!
- 5 (5 Year) Options | 5% Increases At Each Option
- 3 Mile Household Income $95,717
- 10 Mile Population 34,332
- The Only Dollar Store Serving This Community!
- Investment Grade Dollar Store With "BBB" Credit Rating
- Dollar General Corporate Guaranty
Description:
Fortis Net Lease is pleased to present this 2025 BTS 9,100 SF. Dollar General store located in Manitou Beach, 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 wrapping up construction with opening & rent start on track for August 2025.
This Dollar General is highly visible as it is strategically positioned on the corner of Main Street & Manitou Road. This is the only dollar store serving the community! The 10 mile population from the site is 34,332 and the 3 mile average household income is $95,717 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 dollar store. List price reflects a 6.70% cap rate based on NOI of $131,656.
Documents:
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| Offering Memorandum |
Location
Gallery
