Dollar General – Edwardsburg, MI
Fortis Net Lease is pleased to present this brand new 10,640 SF Dollar General Plus store located in Edwardsburg, Michigan. The property is secured with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains five (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 & operating successfully since October 2022.
This Dollar General is highly visible and is strategically positioned on US-12 seeing 9,164 cars per day. The five mile population from the site is 24,475 and the one mile average household income is $97,027 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 a 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 NOI of $87,925.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2022 BTS Construction
• Upgraded Architectural Design | Plus Size Footprint
• Five (5 Year) Options | 10% Rental Rate Increase at Each
• 9,164 Cars Per Day on US-12
• One Mile Household Income $97,027 (Ideal Demographic Shopper According to Article Published by CNN Business in Sept 2022)
• Five Mile Population 24,475
• Directly across From Eagle Lake Elementary School
• 1.5 Miles From Four Lakes Country Club
• On Main Thoroughfare Connecting Communities