Dollar General – Big Rapids, MI
Fortis Net Lease is pleased to present this brand new 10,760 SF. Dollar General Plus store located in Big Rapids, Michigan. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero 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 open and operational with rent having commenced in September of 2021.
This Dollar General is highly visible as it is strategically positioned on Northland Drive which sees 7,820 cars per day. The ten mile population from the site is 27,782 while the three mile average household income $51,386 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 a5.15% cap rate based on NOI of $91,531.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Brand New 2021 BTS Construction | Plus Size Prototype
• Concrete Parking Lot | On Main Thoroughfare
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $51,386
• Ten Mile Population 27,782
• 7,820 Cars Per Day on Northland Drive
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Only 3.5 Miles to Ferris State University