Dollar General – Milan, MI

$2,196,428
Price
$106,526
Noi
4.85%
Cap Rate
10,640
Leasable Area
2022
Year Built

Fortis Net Lease is pleased to present this 2022 BTS, 10,640 SF, Upgraded Brick Dollar General PLUS store located in Milan, Michigan. 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 has finished construction and just opened in March 2022!

This Dollar General is highly visible as it is strategically positioned on Dexter Street which sees 10,727 cars per day, and easily accessible from US-23 which sees 33,352 cars per day. The ten mile population from the site is 102,096 while the three mile average household income is $88,447 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 4.85% cap rate based on NOI of $106,526.76.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2022 BTS Upgraded Brick Construction | Plus Size Store!
• Now Open | March 2022
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $88,447
• Ten Mile Population 102,096 | Expected Growth
• 10,727 Cars Per Day on Dexter Street
• 33,352 Cars Per Day on US-23
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• No Competition Within 10+ Miles
• Only 15 Miles to Ann Arbor & The University of Michigan (31K+ Students)
• On Main Thoroughfare (US-23) in Between Dundee & Ann Arbor | On the Direct Route to Toledo, Ohio

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM