Dollar General- Muskegon, MI
Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General Plus store located in Muskegon, Michigan – a popular West Michigan destination. 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 is currently under construction with rent and store opening on track for April 2025.
This Dollar General is highly visible as it is strategically positioned on Marquette Avenue seeing 8,739 cars per day, near the signalized intersection at Quarterline Road seeing 7,110 cars per day. It sits adjacent to Baker College of Muskegon campus, and across the street from Muskegon Community College! Other schools in the immediate surroundings include Cardinal Elementary, Orchard View High School, Muskegon Area Career Tech Center, and Stevenson Center for Higher Ed. The 5 mile population from the site is 90,254 while the 1 mile average household income is $52,496 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 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 6.50% cap rate based on NOI of $144,064.
INVESTMENT HIGHLIGHTS
• New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 5% RENTAL RATE INCREASES EVERY 5 YEARS
• 2025 BTS Construction | Plus Size Footprint
• 5 (5 Year) Options | 5% Increases At Each Option
• Seeing 8,739 VPD | Near Signalized Intersection (7,110 VPD)
• One Mile Household Income $52,496
• 5 Mile Population 90,254
• Investment Grade Dollar Store With “BBB” Credit Rating
• Popular West Michigan Destination
• Next to Baker College, Muskegon Community College, & Cardinal Elementary