Dollar General Market – Muskegon, MI
Fortis Net Lease is pleased to present this 2023 BTS, 12,480 SF. Dollar General Market RELOCATION STORE located in Muskegon, Michigan. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. The property offers a 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 with rent on track to commence in June 2023.
This Dollar General Market is highly visible as it is strategically positioned on Whitehall Road which sees 9,899 cars per day. The five mile population from the site is 40,903 while the one mile average household income is $68,066 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 5.90% cap rate based on NOI of $113,750.
INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Dollar General Market | Produce and Fresh Meats
• RELOCATION STORE!
• Proven Success & Commitment to the Market
• 2023 BTS Construction
• 5 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $68,066
• Five Mile Population 40,903
• 9,899 Cars Per Day on Whitehall Road
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Years of Same Store Sales Growth
• Located on Main Thoroughfare