DG – Ubly, MI
Fortis Net Lease is pleased to present this 9,002 SF. Dollar General store located in Ubly, MI. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (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 store is opening soon, with rent scheduled to commence in August 2019.
This Dollar General is highly visible as it is strategically positioned on the corner of N Ubly (2,762 cars per day) & E McTaggart Rd. The five mile population from the site is 2,134 while the two mile average household income $57,079 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 $87,976.
• Brand New Absolute NNN Lease
• Zero Landlord Responsibilities
• 15 Year Term / 5 (5 Year) Options
• Two Mile Household Income $57,079
• Five Mile Population 2,134
• 2,762 Cars Per Day on N Ubly Road
• Investment Grade Dollar Store
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth
• Only Dollar Store within a 5 Mile Radius