Dollar General – Muskegon, MI
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.
• 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!