Dollar General – Benton Harbor, MI
Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General Plus Size store located in Benton Harbor, Michigan. The property is secured with a 15 year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (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 with rent having commenced in August of 2022.
This Dollar General is highly visible as it is strategically positioned on the corner of Park Road & Territorial Road. The 10 mile population from the site is 78,104 and the 3 mile average household income $69,357 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 5.20% cap rate based on NOI of $91,000.
• 15 Yr Absolute NNN Lease | Zero Landlord Responsibilities
• 2022 BTS Plus Size Construction
• Corner Location Store | 4-Way Stop Intersection
• Five (5 Year) Options | 10% Rent Increases At Each Option
• Three Mile Household Income $69,357
• Ten Mile Population 78,104
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Popular Tourist Destination Near Lake Michigan
• No Competition Within 5+ Miles
• Easy Access to I-94 | 64,923 VPD