Dollar General – Mayville, MI
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Mayville, Michigan. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities, with 10 years remaining on the primary term. 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 has been open and operating successfully since March of 2017.
This Dollar General is highly visible as it is strategically positioned on Ohmer Road which sees 4,113 cars per day. The ten mile population from the site is 23,030, while the three mile average household income is $62,073 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031exchange 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 5.60% caprate based on NOI of $86,960.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 10 Years Remaining on the Primary Term
• Concrete Parking Lot
• Open & Operating Successfully Since March of 2017
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $62,073
• Ten Mile Population 23,030
• 4,113 Cars Per Day on Ohmer Road
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• No Competition in Over 10 Miles!
• Located on Main Thoroughfare