Dollar General – Battle Creek, MI
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Battle Creek, Michigan. The property is encumbered with a Ten (10) Year Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains 4 (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 open with rent having commenced in February 2020.
This Dollar General is highly visible as it is strategically positioned on the hard corner of B drive South and M-66 which sees 10,299 cars per day. The five mile population from the site is 26,903 while the three mile average household income $61,637 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 6.25% cap rate based on NOI of $87,090.
• 10 Year Double Net (NN) Lease | Minimal Landlord Responsibilities
• Upgraded Brick Facade Construction
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $61,637
• Five Mile Population 26,903
• 10,299 Cars Per Day on M-66
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Only 2.5 Miles From I-94 Exit (41,565 VPD) Featuring a Major Shopping District