Upgraded Dollar General Plus | Rent Bumps!

Highlights:

• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2021 BTS PLUS SIZE Construction | Upgraded All Brick Design
• Located Near Signalized Intersection | Opened October 2021
• 5% Rent Increases Every 5 Years!
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $67,811
• Ten Mile Population 36,007
• 18,290 Cars Per Day on N Cedar Street
• 7,125 Cars Per Day on Old M-21
• Adjacent to Marathon Gas Station
• Investment Grade Dollar Store With "BBB" Credit Rating

Description:

Fortis Net Lease is pleased to present this 2021 BTS, 10,640 SF. Upgraded All Brick Dollar General PLUS SIZE store located in Imlay City, Michigan. The property offers a Fifteen (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 has been open and operating successfully since October 2021.

This Dollar General is highly visible as it is strategically positioned on N Cedar Street which sees 18,290 cars per day, just off of Old M-21 which sees 7,142 cars per day. It is adjacent to a Marathon gas station. The ten mile population from the site is 36,007 while the three mile average household income is $67,811 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 6.90% cap rate based on NOI of $108,258.

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