Dollar General – Jasper, MI
Fortis Net Lease is pleased to present this brand new 9,100 SF. Dollar General store located in Jasper, Michigan. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 has completed construction and opened in late November of 2020.
This Dollar General is highly visible as it is strategically positioned on S. Adrian Highway which sees 2,672 cars per day. The ten mile population from the site is 47,066 while the three mile average household income is $66,053 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 6.00% cap rate based on the NOI of $88,480.
• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $66,053
• Ten Mile Population 47,066
• 2,672 Cars Per Day on S. Adrian Highway
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• Located on Main Thoroughfare Going to Adrian, MI
• Only 8 Miles from Adrian College
• No Competition Within 6+ Miles