Dollar General – White Pigeon, MI
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in White Pigeon, 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 construction is nearing completion with rent commencing in February 2019.
This Dollar General is highly visible as it is strategically positioned on US-12, also called Chicago Road, which has 5,666 cars per day. The ten mile population from the site is 41,167, while the two mile average household income exceeds $62,680 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 brand new 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 6.5% cap rate based on NOI of $87,560.
• Asolute NNN Lease | Zero Landlord Responsibilities
• 15 Year Term / 4 (5 Year) Options
• Located on Hard Corner
• Two Mile Household Income $62,680
• Ten Mile Population 41,167
• 5,666 Cars Per Day on W Shawnee Road
• 4,967 Cars Per Day on M-103
• Investment Grade Dollar Store with “BBB” Credit Rating
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth
• Historic Attractions Located in Town