Dollar General – Muskegon, MI

$1,650,288
Price
$97,367
Noi
5.90%
Cap Rate
10,640
Leasable Area
2023
Year Built

Fortis Net Lease is pleased to present this 2023 BTS, 10,640 SF. Upgraded Dollar General PLUS store located in Muskegon, 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 been open & operating successfully since April 2023.

This Dollar General is highly visible as it is strategically positioned on the hard signalized corner of Wood Street & E Laketon Avenue which sees 24,389 cars per day. The five mile population from the site is 102,803 while the three mile average household income is $46,017 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 “small box” discount retailer. List price reflects a 5.90% cap rate based on NOI of $97,367.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2023 BTS Plus Size Construction
• Hard Signalized Corner Location
• 3 Points of Ingress/Egress | Accessible from 3 Streets
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $46,017
• Five Mile Population 102,803
• 24,389 Cars Per Day at Wood Street & E Laketon Avenue
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Years of Same Store Sales Growth
• Located in the heart of Downtown Muskegon
• Quick & easy Access to Highway 31
• Surrounded by Residential Homes & Local Schools
• Consumer Spending Within 5 Miles is $1.1 Billion!

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM