Dollar General – Free Soil, MI
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in FreeSoil, Michigan. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease,leaving zero landlord responsibilities. The lease contains 4 (5) Yr. Options to renew, eachwith a 10% rental rate increase. The lease is corporately guaranteed by Dollar GeneralCorporation which holds a credit rating of “BBB”, which is classified as InvestmentGrade. The store is currently open with rent having commenced in September 2019.
This Dollar General is highly visible as it is strategically positioned on N. US 31 whichsees 7,348 cars per day. The ten mile population from the site is 16,518 while the three mile average household income $65,444 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 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 6.50% cap rate based on NOI of $86,120.
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Concrete Parking Lot
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $65,444
• Ten Mile Population 16,518
• 7,348 Cars Per Day on North US 31
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Quarter of Same Store Sales Growth
• Only Dollar Store Within 7.8 Miles
• Located Near Ludington, MI Which Attracts Campers From all Around