Dollar General – De Tour, MI
Fortis Net Lease is pleased to present this 2021 BTS, 9,002 SF. Upgraded Dollar General store located in De Tour Village, Michigan. The property offers a brand new Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (5Year) 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 completed construction and opened successfully in November 2021.
This Dollar General is highly visible as it is strategically positioned on the corner of George Street & Ontario Street which sees 1,392 cars per day. It is adjacent to De Tour Passage Market grocery store, and is the only dollar store serving the community. The ten mile population from the site is 1,955 while the three mile average household income is $51,042 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the 5 mile population growth rate at 4.54%. 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 5.15% cap rate based on NOI of $94,565.04.
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2021 BTS Upgraded Construction | Now Open
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $51,042
• Ten Mile Population 1,955
• Five Mile Population Growth Rate 4.54%
• 1,392 Cars Per Day on Ontario Street
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Only Dollar Store Serving the Community | No Competition Within 23+ Miles
• Year-Round Ferry to Drummond Island (Popular Tourist Area) picks up/drops off hourly From De Tour Village