Dollar General – Mendon, MI
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Mendon, Michigan. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities, with 9.5 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 July of 2016 and ranks in the top third performing stores in Michigan (178/511).
This Dollar General is highly visible as it is strategically positioned on the corner of N Railroad St and W Main St which sees 4,815 cars per day. The ten mile population from the site is 31,748 while the three mile average household income is $76,562 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 5.60% caprate based on NOI of $82,788.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 9.5 Years Remaining on the Primary Term
• Corner Location
• Two Points of Ingress/Egress | Accessible From 2 Streets
• The Only Dollar Store Serving the Community!
• Ranks in The Top Third Percent Performing Stores in Michigan (178/511)
• Concrete Parking Lot | Operating Successfully Since 2016
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $76,562
• Ten Mile Population 31,748 and Growing
• 4,815 Cars Per Day on W Main Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• No Competition in Nearly 10 Miles!