Dollar General – Jonesville, MI
Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Jonesville, Michigan. The property is secured with a 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 has completed construction & successfully opened for business in December 2022!
This Dollar General is highly visible as it is strategically positioned on Concord Road which sees 2,513 cars per day, adjacent to Timber Pine Pizza & Deli. This is a limited competition area with the next dollar store being over 7 miles away. The ten mile population from the site is 28,957 while the three mile average household income$68,048 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 5.90% cap rate based on NOI of $89,139.
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2022 BTS Plus Size Construction
• Limited Competition | Next Dollar Store is 7+ Miles Away
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $68,048
• Ten Mile Population 28,957
• 2,513 VPD on Concord Road
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
• 10 Miles to Hillsdale College