Dollar General – Mt. Pleasant, MI

$1,891,534
Price
$97,414
Noi
5.15%
Cap Rate
9,100
Leasable Area
2022
Year Built

Fortis Net Lease is pleased to present this brand new 9,100 SF. Dollar General store located in Mount Pleasant, Michigan. It sits only 2.3 Miles from Central Michigan University and Soaring Eagle Casino & Resort! The property is secured with a 15 year Absolute NNN Lease, leaving zero landlord responsibilities. 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 is currently open with rent having commenced in January 2022.

This Dollar General is highly visible as it is strategically positioned on E Pickard Road which sees 18,185 cars per day near S Isabella Rd which sees 13,767 cars per day. The five mile population from the site is 40,693 while the one mile average household income $65,980 per year, making this location ideal for a Dollar General. The store is surrounded by major retailers, hotels, and medical facilities. 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 5.15% cap rate based on NOI of $97,414.

INVESTMENT HIGHLIGHTS
• 15 Yr Absolute NNN Lease | Zero Landlord Responsibilities
• 2022 BTS Construction | Now Open!
• Four (5 Year) Options | 10% Rent Increases At Each Option
• One Mile Household Income $65,980
• Five Mile Population 40,693
• 18,185 Cars Per Day on E Pickard Road
• 13,767 Cars Per Day on S Isabella Road
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• 2.3 Miles from Central Michigan University
• 2.4 Miles from Soaring Eagle Casino & Resort
• Adjacent to Burger King & Surrounded by Major Retailers, Medical Centers & Hotels

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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