Dollar General Market – Scottville, MI
Fortis Net Lease is pleased to present this brand new 12,480 SF. RELOCATION Dollar General Market store located in Scottville, Michigan. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. A relocation store has proven success & commitment to their markets! The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 year) options to renew! The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store completed construction & successfully opened for business in December 2023.
This Dollar General Market is highly visible as it is strategically positioned on S Main Street which sees 3,218 cars per day, just off of Hwy-10 which sees 10,831 cars per day. The 10 mile population from the site is 23,924 while the 3 mile average household income is $62,478 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 6.65% cap rate based on NOI of $127,383.96.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• Dollar General Market Sells Produce and Fresh Meats
• RELOCATION STORE | Proven Success in the Market!
• 5% Rent Increases Every 5 Years during the Primary Term!
• Seeing 3,218 VPD | Off of Hwy 10 Seeing 10,831 VPD
• 2023 BTS Plus Size | Super Size Construction
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $62,478
• Ten Mile Population 23,924
• Investment Grade Dollar Store With “BBB” Credit Rating
• Located in a Popular West Michigan Tourist Area