Dollar General – Edwardsburg, MI
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Edwardsburg, MI. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (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 currently open with rent having commenced on 2/1/2020.
This Dollar General is highly visible and is strategically positioned on US-12 seeing 6,396 cars per day. The five mile population from the site is 36,836 while the one mile average household income is $61,093 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 5.85% cap rate based on NOI of $86,520.
• Brand New Absolute NNN Lease
• Zero Landlord Responsibilities
• Concrete Parking Lot
• Four (5 Year) Options | 10% Rental Rate Increase at Each
• 6,396 Cars Per Day on US-12
• Three Mile Household Income $61,093
• Five Mile Population 36,836
• Dollar General announced 30th Straight Year of Same Store Sales Growth