DG – Gwinn, MI
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Gwinn, MI. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Five (5) Yr. Options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The rent commenced on 8/15/2016.
This Dollar General is highly visible and is strategically positioned in Gwinn, MI. The Ten mile population from the site exceeds 8,000 while the Three mile median household income exceeds $49,000 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 a 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 6.65% cap rate based on NOI of $81,333.
• Brand New Absolute NNN Lease
• 15 Year Term | Five (5 Year) Options
• Three Mile Income Exceeds $49,000
• Ten Mile Population Exceeds 8,000
• Corporate Guarantee “BBB”
• Only Investment Grade Dollar Store
• Site Benefits From 4,159 Cars Per Day