Dollar General – Benton Harbor, MI
Fortis Net Lease is pleased to present this brand new 10,640 SF RELOCATION Dollar General Plus store located in Benton Harbor, Michigan – a popular tourist destination! The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 year) options to renew. 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 store opening & rent on track to start in October 2024.
This Dollar General Market is highly visible as it is strategically positioned off M-139 seeing 11,831 cars per day! The 5 mile population from the site is 47,438 while the 3 mile average household income is $60,934 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 small box discount retailer. List price reflects a 6.65% cap rate based on NOI of $125,404.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• RELOCATION STORE | PROVEN SUCCESS IN THE MARKET!
• 5% RENT INCREASES EVERY 5 YEARS!!
• Easy on/off access to I-94 Exit | On Main Thoroughfare
• 2024 BTS Construction | Plus Size Store
• 11,831 Cars Per Day!
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $60,934
• Five Mile Population 47,438
• Investment Grade Dollar Store With “BBB” Credit Rating
• Corporate Guaranty!