Dollar General – Rockford, MI
Fortis Net Lease is pleased to present this brand new 9,100 SF. Dollar General store located in Rockford, Michigan. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (5 Yr.) 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 open and operational with rent having commenced in September of 2021.
This Dollar General is highly visible as it is strategically positioned on 14 Mile Road which sees 13,844 cars per day and is a main thoroughfare connecting communities. The ten mile population from the site is 78,403 while the three mile average household income $98,588 per year, making this location ideal for a Dollar General. The area is also experiencing steady growth. 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% cap rate based on NOI of $98,880.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Grand Rapids-Kalamazoo-Batt le Creek, MI DMA
• Brand New 2021 BTS Construction
• On Main Thoroughfare Connecting Communities
• 4 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $98,588
• Ten Mile Population 78,403 and Growing
• 13,844 Cars Per Day on 14 Mile Road
• Ten Mile Consumer Spending $1 Billion
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth