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 is currently under construction with rent & store opening on track for March 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 6.40% cap rate based on the initial NOI of $133,624.
INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 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