Dollar General – Lakeview, MI
Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Lakeview, Michigan. The property is secured with a 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 is currently open with rent having commenced in April 2022.
This Dollar General is highly visible as it is strategically positioned on the signalized corner of N Greenfield Rd and State Route 46 which sees 10,718 cars per day. The ten mile population from the site is 17,213 while the three mile average household income is $63,053 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 NOI of $101,792.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2022 BTS Plus Size Construction
• Hard Signalized Corner Location
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $63,053
• Ten Mile Population 17,213
• 10,718 Cars Per Day at N Greenfield Rd and State Route 46
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
• On the Same Corner as a McDonalds, Gas Station, Church & Bank
• On Main Thoroughfare | Situated Near the Local Schools