Dollar General – Rodney, MI
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Rodney, MI. The property is encumbered with 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, with rent having commenced on 4/17/2020.
This Dollar General is highly visible as it is strategically positioned on McKinley Road which sees 3,120 cars per day. The ten mile population from the site is 32,520 while the three mile average household income is $73,133 per year, making this location ideal for a Dollar General. The area is experiencing great growth with the 5 mile population growth rate at 3.80%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a 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 5.90% cap rate based on NOI of $81,342.
• Absolute NNN Lease | Zero Landlord Responsibilities
• Brand New Construction | 15 Year Term
• Four (5 Year) Options | 10% Rental Increase at Each
• Three Mile Household Income $73,133
• Ten Mile Population 32,520
• Five Mile Population Growth Rate 3.80%
• 3,120 Cars Per Day on McKinley Road
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth