DG – Jackson, MI
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Jackson, MI. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 store is open, with rent having commenced on 1/31/2018.
This Dollar General is highly visible as it is strategically positioned on M-50, which has 5,900 cars per day. The five mile population from the site is 30,299 while the one mile average household income is $101,706 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 6.50% cap rate based on NOI of $92,784.
- Brand New Absolute NNN Lease
- Zero Landlord Responsibilities
- 15 Year Term | Four (5 Year) Options
- One Mile Household Income $101,706
- Five Mile Population Exceeds 30,000
- 5,900 Cars Per Day on M-50
- Large 4 Acre Lot
- Investment Grade Dollar Store with “BBB” Credit Rating
- Dollar General Reported 28 Consecutive Quarter of Same Store Sales Growth