Dollar General Plus – Cement City, MI

$1,932,040
Price
$99,500
Noi
5.15%
Cap Rate
10,640
Leasable Area
2021
Year Built

Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General PLUS store located in Cement City, 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 is under construction with rent on track to commence in December of 2021.

This Dollar General is highly visible as it is strategically positioned on Cement City Road which sees 2,298 cars per day, directly across from Cement City Baptist Church. It sits less than 5 miles from the Michigan International Speedway, which holds numerous Nascar & other large events throughout the year with the capacity to hold 137,000+people. The ten mile population from the site is 51,535 while the three mile average household income is $89,647 per year, making this location ideal for a Dollar General. The area is also seeing great growth with the three mile growth population rate at 3.17%.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 dollar store. List price reflects a 5.15% caprate based on the NOI of $99,500.04.

INVESTMENT HIGHLIGHTS
• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 5 (5 Year) Options | 10% Increases At Each Option
• Plus Size Construction | 2021 BTS
• Three Mile Household Income $89,647
• Ten Mile Population 51,535
• Three Mile Population Growth Rate 3.17%
• 2,298 Cars Per Day on Cement City Road
• Located on Road Leading to Michigan International Speedway | Less Than 5 Miles Away
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Straight Years of Same Store Sales Growth
• Only Dollar Store Serving The Community!

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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