Dollar General – St. Joseph, MI

$1,877,096
Price
$97,609
Noi
5.20%
Cap Rate
10,640
Leasable Area
2022
Year Built

Fortis Net Lease is pleased to present this 2022 BTS 10,640 SF. Dollar General PLUS SIZE store located in St. Joseph, Michigan, a popular tourist destination. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 completed construction and successfully opened for business in July of 2022.

This Dollar General is highly visible as it is strategically positioned on M-139 which sees 9,998 cars per day near the signalized corner of Niles Rd which sees 7,852 cars per day. The five mile population from the site is 52,377 while the one mile average household income is $120,265 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 dollar store. List price reflects a 5.20% cap rate based on NOI of $97,609.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Popular Tourist Destination City
• 2022 BTS Upgraded | PLUS SIZE Construction
• Now Open | July 2022
• Adjacent to True Value Anchored Center
• 4 (5 Year) Options | 10% Increases At Each Option
• Concrete Parking Lot | Near Signalized Intersection
• One Mile Household Income $120,265
• Five Mile Population 52,377
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Years of Same Store Sales Growth
• On Main Thoroughfare into Downtown St. Joseph

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM