Dollar General – Mulliken, MI
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Mulliken, MI. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (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 is currently under construction with rent commencing in June 2019.
This Dollar General is highly visible as it is strategically positioned on W Grand Ledge Hwy which sees 5,300 cars per day. The ten mile population from the site is 34,176, while the three mile average household income exceeds $75,800 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 a brand new 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 6.5% cap rate based on NOI of $83,400.
• Absolute NNN Lease | Zero Landlord Responsibilities
• 15 Year Term / 4 (5 Year) Options | 10% Rental Increase At Options
• Three Mile Household Income $75,800
• Ten Mile Population 34,176
• 5,300 Cars Per Day on W Grand Ledge Hwy
• Investment Grade Dollar Store with “BBB” Credit Rating
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth
• Only Dollar Store within a 10 Minute Drive Radius
• Great Central Michigan Location Near Major Freeways and CIties
• 20 Miles From Lansing – Michigan’s State Capital