Dollar General – St. Clair, MI
Fortis Net Lease is pleased to present this 9,026 SF Dollar General store located in St. Clair, MI. The property is encumbered with a fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Five (5 Year) 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 currently open with rent having commenced 2/13/2019.
This Dollar General is highly visible as it is strategically positioned on Gratiot Avenue. The ten mile population from the site exceeds 67,000 while the three mile average household income exceeds $85,500 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 6.75% cap rate based on NOI of $89,854.
• Brand New Absolute NNN Lease
• Zero Landlord Responsibilities
• 15 Year Term / Five (5 Year Options)
• Investment Grade Dollar Store
• Three Mile Household Income $85,542
• Ten Mile Population Exceeds 67,000
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth
• Only 1.6 Miles from I-94 which quickly leads to the Bridge to Canada