DG – Lennon, MI
Fortis Net Lease is pleased to present this 9,026 SF Dollar General store located in Lennon, MI. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (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 is anticipated to commence on approximately 8/26/2017.
This Dollar General will be highly visible as it is being built on S. Sheridan Rd (M13). The five mile population from the site exceeds 13,500, and the three mile average household income exceeds $52K per year, making this location ideal for a Dollar General. The site benefits from having an average daily traffic count greater than 5800. 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 6.70% cap rate based on an NOI of $94,070.
Brand New Absolute NNN Lease
Zero Landlord Responsibilities
15 Year Term | Four (5 Year) Options
Three Mile Household Income $52,606
Five Mile Population Exceeds 13,500
5,800+ Average Daily Traffic Counts
Only Investment Grade Dollar Store