Dollar General – Interlochen, MI
Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Interlochen, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years including at each of the 5 (5 year) options to renew! The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store completed construction & successfully opened for business in September 2023.
This Dollar General is highly visible as it is strategically positioned on the hard corner of N Reynolds Road & Honor Highway which sees 10,287 cars per day. The 10 mile population from the site is 34,544 while the 3 mile average household income is $76,120 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 small box discount retailer. List price reflects a 6.75% cap rate based on NOI of $108,143.04.
INVESTMENT HIGHLIGHTS
• New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 5% RENTAL RATE INCREASES EVERY 5 YEARS!
• Corner Site Seeing 10,287 Cars Per Day
• 2023 BTS Plus Size | Plus Size Construction
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $76,120
• Ten Mile Population 34,544
• Investment Grade Dollar Store With “BBB” Credit Rating
• Corporate Guaranty | 20,000+ Stores