Dollar General – Coldwater, MI

$1,499,712
Price
$88,483
Noi
5.90%
Cap Rate
10,640
Leasable Area
2022
Year Built

Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General PLUS store located in Coldwater, Michigan. The property offers a Fifteen (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 and successfully opened for business in November 2022.

This Dollar General is highly visible as it is strategically positioned directly across from the Branch County Memorial Airport on E Chicago Road (Highway 12) which sees 6,100 cars per day. The ten mile population from the site is 35,641 while the three mile average household income is $60,470 per year, making this location ideal for a Dollar General. The area is also seeing steady population growth. 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 5.90% cap rate based on the NOI of $88,483.

INVESTMENT HIGHLIGHTS
• New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Concrete Parking Lot
• 5 (5 Year) Options | 10% Increases At Each Option
• Plus Size Construction2022 BTS | Opening in November 2022
• Three Mile Household Income $60,470
• Ten Mile Population 35,641
• 6,100 Cars Per Day on E Chicago Road (Highway 12)
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Straight Years of Same Store Sales Growth
• Across From Branch County Memorial Airport

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

DOWNLOAD LINKS

OFFERING MEMORANDUM