request_info_guest false

15 Year Absolute NNN Dollar General Plus

$1,614,075

2033 Reynolds Road, Interlochen, MI 49643

Active
Last Updated: 04/03/2025

6.7

Cap Rate

108,143.04

NOI

Details:
Cap Rate:    6.7%
NOI:    $108,143.04
Building Size:    10,640 sqft
Lot Area:    3.33 acres
Lease Type:    Absolute Net
Year Built:    2023
Price Per Sqft:    $151.70
Zoning:    Commercial
Parking Spots:    36
Roof:    Tenant's Responsibility
HVAC:    Tenant's Responsibility
Highlights:
  • New 15 Year Absolute NNN Lease
  • Zero Landlord Responsibilities
  • Corner Site Seeing 10,287 Cars Per Day
  • 2023 BTS Plus Size | Plus Size Construction
  • 5 (5 Year) Options | 10% Increases At Each Option
  • Three Mile Household Income $76,120
  • Ten Mile Population 34,544
  • Investment Grade Dollar Store With "BBB" Credit Rating
  • Corporate Guaranty | 20,000+ Stores
  • 5% RENTAL RATE INCREASES EVERY 5 YEARS!
Description:

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

This Dollar General is highly visible as it is strategically positioned on the hard corner of N Reynolds Road & Honor Highway which sees 10,287 cars per day. The 10 mile population from the site is 34,544 while the 3 mile average household income is $76,120 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 $108,143.04

Map:
Documents:
Title
Dollar_General_-_MI_-_Interlochen.pdf
* Documents permissions are set by the listing owner, request information to access locked documents.
Location
Gallery