Dollar General – Oscoda, MI
Fortis Net Lease is pleased to present this brand new 12,480 SF. Dollar General store located in Oscoda, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 year) options to renew. 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 successfully opened in January 2024.
This Dollar General is highly visible as it is strategically positioned off of F-41 which sees 6,786 cars per day. It is conveniently located less than 1 mile from Alpena Community College & the Oscoda -Wurtsmith Airport. The 10 mile population from the site is 11,166 while the 3 mile average household income is $49,878 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 6.70% cap rate based on the initial NOI of $133,624.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities | Now Open
• Popular Tourist Destination on Lake Huron
• 5% RENT INCREASES EVERY 5 YEARS!!
• Less Than 1 Mile From Alpena Community College
• 6,786 Cars Per Day | Traffic Signal Location
• 2024 BTS Plus Size | Market Prototype
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $49,878
• Ten Mile Population 11,166
• Investment Grade Dollar Store With “BBB” Credit Rating