Dollar General – Laingsburg, MI
Fortis Net Lease is pleased to present this 2022 BTS, 10,640 SF. Dollar General Plus store located in Laingsburg, Michigan – just outside of Lansing, the state’s capital. The property offers a brand new Fifteen (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 is currently under construction and on track for opening and rent commencement in March 2022.
This Dollar General is highly visible as it is strategically positioned off of Woodbury Road which sees 3,641 cars per day, near the intersection at E Grand River which sees 4,686 cars per day. It is adjacent to Sage Market grocery store, across the street from Family Dollar, and just down the road (1/2 mile) from Laingsburg High School. The ten mile population from the site is 47,729 while the three mile average household income is $91,284 per year, making this location ideal for a Dollar General. This area is experiencing steady population growth. 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 5.10% cap rate based on NOI of $102,183.72.
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2022 BTS PLUS SIZE Construction
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $91,284
• Ten Mile Population 47,729
• 3,641 Cars Per Day on Woodbury Road
• 4,686 Cars Per Day on E Grand River
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Adjacent to Sage Market | Across From Family Dollar
• 1/2 Mile From Local Middle & High Schools