Dollar General – Baldwin, MI
Fortis Net Lease is pleased to present this 10,640 SF. RELOCATION PLUS Dollar General store located in Baldwin, Michigan. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains four (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 currently under construction with rent scheduled to commence in July 2020.
This Dollar General is highly visible as it is strategically positioned on Michigan Avenue which sees 4,871 cars per day. The ten mile population from the site is 7,461 while the three mile average household income is $39,956 per year, making this location ideal for a Dollar General. This area is also experiencing great growth with the ten mile population growth rate at 5.24%. 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 6.25% cap rate based on NOI of $91,420.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Relocation Plus Store!
• Four (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $39,956
• Ten Mile Population 7,461
• Ten Mile Population Growth Rate 5.24%
• 4,871 Cars Per Day on Michigan Avenue
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 33 Consecutive Quarters of Same Store Sales Growth