Dollar General Market – Grayling, MI
Fortis Net Lease is pleased to present this new 12,480 SF. Dollar General Market store located in Grayling, Michigan. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years including at each of the 5 (5 year) options to renew! The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store completed construction & successfully opened for business in August 2024.
This Dollar General Market is highly visible as it is strategically positioned on I-75 Business Loop which sees 5,062 cars per day. There is quick and easy access to I-75 which sees 14,958 cars per day. It sits directly across from Grayling Army Air Force Base. The 10 mile population from the site is 10,148 while the 3 mile average household income is $63,825 per year, making this location ideal for a Dollar General. This area is seeing great growth with the 10 mile population growth rate at 6.82%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of 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 small box discount retailer. List price reflects a 6.70% cap rate based on NOI of $138,632.04.
INVESTMENT HIGHLIGHTS
• New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 5% RENT INCREASES EVERY 5 YEARS!
• Dollar General Market | Produce and Fresh Meats
• Seeing 5,062 Cars Per Day | Quick Access to I-75 Seeing 14,958
• 2024 BTS Super Size Footprint | NOW OPEN!
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $63,825
• Ten Mile Population 10,148 | Expected 6.82% Growth
• Investment Grade Dollar Store With “BBB” Credit Rating
• Across from Grayling Army Air Force Base