Dollar General – Flint, MI

$1,121,019
Price
$87,999.96
Noi
7.85%
Cap Rate
9,774
Leasable Area
2019
Year Built

CONTACT US REGARDING THIS LISTING

Rob Bender

Managing Partner

Doug Passon

Managing Partner

DOWNLOAD LINKS

OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this Dollar General located at 1510 E. Carpenter Road in Flint, MI. A brand new ten year NN lease will be in place when the lease commences in January 2020. The existing building is currently being remodeled to suite and is receiving extensive repairs, capital replacements and upgrades. There are four, five year options to renew and ten percent rent bumps every five years including each option period. The lease has a corporate guarantee which has a S&P rating of “BBB” and this is considered investment grade. Dollar General reimburses the landlord for property taxes and also pays a minimum parking area maintenance fee.

The subject property is strategically located at the intersection of E. Carpenter Road (7,000 VPD) and North Dort Highway (13,000 VPD). This Dollar General is situated north of downtown Flint and has easy access to I-75, I-475 and I-69. Surrounding retail tenants include: Family Dollar, AutoZone, Burger King, MetroPCS, BP Gas and McDonald’s. The subject offering represents an ideal opportunity for a 1031 exchange buyer 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.

INVESTMENT HIGHLIGHTS
• 9,774 SF “Remodel to Suit” Dollar General on 1.1 Acre Lot
• New 10 Year NN Lease | Minimal Landlord Responsibilities
• Very Rare – 10% Rent Bumps Every 5 Years
• Corporate Guaranteed Lease | S&P Rating “BBB”
• Over 126,000 Residents Within 5 Miles
• 5 Mile Median Home Value Exceeds $63,000
• 5 Mile Average Household Income Exceeds $39,000