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 is currently on track to open 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 5.35% caprate based on NOI of $95,906.
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2022 BTS Plus Size Construction
• 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