Dollar General – Concord, MI

$1,548,000
Price
$86,688
Noi
5.60%
Cap Rate
9,100
Leasable Area
2016
Year Built

Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Concord, Michigan with an upgraded brick façade. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities, with 9.75 years remaining on the primary term. The lease contains 4 (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 been open and operating successfully since September of 2016 and ranks in the top third performing stores in Michigan (163/511).

This Dollar General is highly visible as it is strategically positioned at the corner of N Main Street which sees 4,597 cars per day, just off of W Jackson Road which sees 7,778 cars per day. The ten mile population from the site is 36,970 and growing, while the three mile average household income is $78,727 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 5.60% caprate based on NOI of $86,688.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 9.75 Years Remaining on the Primary Term
• Concrete Parking Lot | Upgraded Brick Façade
• Open & Operating Successfully Since 2016
• Ranks in The Top Third Percent Performing Stores in Michigan (163/511)
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $78,608
• Ten Mile Population 36,970
• 4,597 Cars Per Day on N Main Street
• 7,778 Cars Per Day on W Jackson Road
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Located on Main Thoroughfare

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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