Dollar General – Grand Ledge, MI

$1,903,906
Price
$99,955.08
Noi
5.25%
Cap Rate
9,026
Leasable Area
2021
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this brand new 9,026 SF. Dollar General store located in Grand Ledge, Michigan. The property offers a Fifteen (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 store opening and rent on track to commence in June 2021.

This Dollar General is highly visible as it is strategically positioned on the hard corner of Promec Drive and N. Clinton Street which sees 6,904 cars per day. It sits only 1 mile from the Abrams Municipal Airport. The five mile population from the site is 30,866 while the one mile average household income is $77,572 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 5.25% cap rate based on the NOI of $99,917.82.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 5 (5 Year) Options | 10% Increases At Each Option
• Hard Corner Location | 2021 BTS Construction
• One Mile Household Income $77,572
• Five Mile Population 30,866
• 6,904 Cars Per Day on N. Clinton Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Only 1 Mile From Abrams Municipal Airport