Dollar General – Hart, MI
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Hart, Michigan. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains four (5) Yr. 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 open with rent having commenced on May 18, 2020.
This Dollar General is highly visible as it is strategically positioned on Polk Road, seeing 6,555 cars per day, just a short distance from the Highway 31 exit, seeing 13,647 cars per day. Conveniently located just 6 miles from Silver Lakes State Park & Sand Dunes which attracts tourists from all over the world to experience it’s beauty and adventure. The ten mile population from the site is 16,546 while the three mile average household income is $51,111 per year, making this location ideal for a Dollar General. This area is also experiencing steady growth. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor 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. List price reflects a 6.25% cap rate based on NOI of $79,571.
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• Brand New 2020 BTS Construction
• Only 6 Miles from Silver Lakes State Park & Sand Dunes | HUGE Tourist Area!
• Four (5 Year) Options | 10% Rental Increase At Each Option
• Three Mile Household Income $51,111
• Ten Mile Population 16,546
• 6,555 Cars Per Day on Polk Road
• 13,647 Cars Per Day on Highway 31
• Area is Experiencing Steady Growth
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 33 Consecutive Quarter of Same Store Sales Growth