Dollar General – Grand Haven, MI

$1,638,095
Price
$86,000
Noi
5.25%
Cap Rate
9,100
Leasable Area
2017
Year Built

Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Grand Rapids, Michigan. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities, with 10.5 years remaining on the primary term. The lease contains 4 (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 and operating successfully since June of 2017.

This Dollar General is highly visible as it is strategically positioned on Mercury Drive which sees 7,600 cars per day and sits adjacent to a gas station. The five mile population from the site is 44,742, while the one mile average household income is $86,631 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the one mile population growth rate at 6.10%. 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 5.25% cap rate based on NOI of $86,000.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 10.5 Years Remaining on the Primary Term
• Grand Haven is a Popular Tourist Destination Drawing Thousands Every Year
• Concrete Parking Lot
• Open & Operating Successfully Since March of 2017
• 4 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $86,631
• Five Mile Population 44,742 | Expected 4.77% Growth
• One Mile Population Growth Rate 6.10%
• 7,600 Cars Per Day on Mercury Drive
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• No Competition Within 5+ Miles!

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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