Dollar General – Imlay City, MI
Fortis Net Lease is pleased to present this 2021 BTS, 10,640 SF. Upgraded All Brick Dollar General PLUS SIZE store located in Imlay City, Michigan. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. 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 October 2021.
This Dollar General is highly visible as it is strategically positioned on N Cedar Street which sees 18,278 cars per day, just off of Old M-21 which sees 7,795 cars per day. It is adjacent to a Marathon gas station and across the street from a Rite Aid Pharmacy. The ten mile population from the site is 36,278 while the three mile average household income is $70,871 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 5.05% cap rate based on NOI of $108,258.
– 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
– 2021 BTS PLUS SIZE Construction | Upgraded All Brick Design
– Located Near Signalized Intersection | Opened October 2021
– 4 (5 Year) Options | 10% Increases At Each Option
– Three Mile Household Income $70,871
– Ten Mile Population 36,278
– 18,278 Cars Per Day on N Cedar Street
– 7,795 Cars Per Day on Old M-21
– Adjacent to Marathon Gas Station and Across from Rite Aid Pharmacy
– Investment Grade Dollar Store With “BBB” Credit Rating
– DG Reported 31 Consecutive Years of Same Store Sales Growth