Dollar General – Temperance, MI
Fortis Net Lease is pleased to present this brand new 10,640 SF. Upgraded Dollar General Plus store located in Temperance, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5 (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 is currently under construction with rent start and opening on track for October 2023.
This Dollar General is highly visible as it is strategically positioned near the signalized corner of Smith Road & Lewis Avenue which sees 19,767 cars per day directly adjacent to Bedford Shops shopping center & just a short drive to Toledo, Ohio. The five mile population from the site is 146,325 while the one mile average household income is $60,945 per year, making this location ideal for a Dollar General. Additionally, the 5 mile consumer spending is $1.6 Billion! 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 6.25% cap rate based on NOI of $115,680.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Located Near Hard Signalized Corner Location
• 2023 BTS Plus Size | Upgraded & Plus Size Design
• 5 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $60,945
• Five Mile Population 146,325
• Five Mile Consumer Spending $1.6 Billion
• 19,767 VPD at Smith Road & Lewis Avenue
• On Main Thoroughfare | Short Drive to Toledo, Ohio
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth