Dollar General – Crystal, MI
Fortis Net Lease is pleased to present this brand new 9,100 SF. Dollar General store located in Crystal, 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 May of 2021.
This Dollar General is highly visible as it is strategically positioned on S. Main Street which sees 2,013 cars per day and adjacent to Crystal Motor Speedway which attracts many tourists throughout the year. The ten mile population from the site is 20,208 while the three mile average household income $49,492 per year, making this location ideal for a Dollar General. This area is also seeing steady growth in population. 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 5.75% cap rate based on NOI of $92,944.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Brand New 2021 BTS Construction
• Concrete Parking Lot
• Centrally Located with Easy Access to Many Major MI Cities
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $49,492
• Ten Mile Population 20,208
• 2,013 Cars Per Day on S. Main Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth