Dollar General – Montague, MI

$1,514,530
Price
$88,600
Noi
5.85%
Cap Rate
9,100
Leasable Area
2020
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this brand new 9,100 SF. Dollar General store located in Montague, Michigan. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (5 Yr.) 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 completed construction and just opened in December of 2020.

This Dollar General is highly visible as it is strategically positioned on the corner of W. Fruitvale Road, which sees 5,001 cars per day, and US 31, which sees 5,588 cars per day. The ten mile population from the site is 30,141 while the three mile average household income $66,539 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 5.85% cap rate based on NOI of $88,600.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Brand New BTS Construction | Now Open
• 4 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $66,539
• Ten Mile Population 30,141
• 5,001 Cars Per Day on W. Fruitvale Rd.
• 5,588 Cars Per Day on US 131
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth