Dollar General – Burr Oak, MI
Fortis Net Lease is pleased to present this brand new 9,100 SF. Dollar General store located in Burr Oak, 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 December 2020.
This Dollar General is highly visible as it is strategically positioned on the corner of Halfway Road and Chicago Road E (Highway 12) which sees 6,107 cars per day. The ten mile population from the site is 34,200 while the three mile average household income $65,052 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 56.00% cap rate based on NOI of $84,600.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Brand New 2020 BTS Construction
• Corner Location | Located on Main Thoroughfare Connecting Communities
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $65,052
• Ten Mile Population 34,200
• 6,107 Cars Per Day on Chicago Road E (Highway 12)
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Only 5.5 Miles From Sturgis | Draws Nearly 1/2 Million Tourists to the Annual Motorcycle Rally