Dollar General – Baldwin, MI
Fortis Net Lease is pleased to present this 10,640 SF. Upgraded Dollar General store located in Baldwin, Michigan. The property is secured with 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 is currently open and operating successfully with rent having commenced in March of 2022.
This Dollar General is highly visible as it is strategically positioned on the corner of Highway 10 NW and S Forman Rd which sees 3,829 cars per day. The ten mile population from the site is 7,550 while the three mile average household income is $41,552 per year, making this location ideal for a Dollar General. This area is also experiencing steady growth in population. 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 5.50% cap rate based on NOI of $89,586.
• Brand New Absolute NNN 15 Year Lease
• Hard Corner Location Concrete Parking Lot
• Zero Landlord Responsibilities
• Four (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $41,552
• Ten Mile Population 7,550 | Expected 2.13% Growth
• 3,829 Cars Per Day at Highway 10 & S Forman
• Investment Grade Dollar Store with “BBB” Credit Rating
• Located on Main Thoroughfare
• Across from Large Residential Area