Dollar General – Clayton, MI
Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Clayton, 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 has completed construction & successfully opened for business in October 2022.
This Dollar General is highly visible as it is strategically positioned on W Carleton Road which sees 4,082 cars per day, near the intersection at State Street where a gas station sits. The ten mile population from the site is 27,562 while the three mile average household income $69,097 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 6.00% caprate based on NOI of $95,906.
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2022 BTS Plus Size Construction | NOW OPEN!
• The Only Dollar Store Serving the Community
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $69,097
• Ten Mile Population 27,562
• 4,082 VPD on W Carleton | 2,146 VPD on State Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
• Near 2-way Stop Intersection | Citgo Gas Station