Dollar General – South Boardman, MI
Fortis Net Lease is pleased to present this brand new, wood prototype 9,100 SF. Dollar General store located in South Boardman, Michigan. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (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 mid February 2021.
This Dollar General is highly visible as it is strategically positioned on US 131 SW which sees 5,100 cars per day. The ten mile population from the site is 13,538 while the three mile average household income is $63,516 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 dollar store. List price reflects a 5.85% cap rate based on the NOI of $84,200.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 4 (5 Year) Options | 10% Increases At Each Option
• New Wood Prototype Design | 2021 BTS
• Three Mile Household Income $86,255
• Ten Mile Population 13,538
• 5,100 Cars Per Day on US 131 SW
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• No Competition Within 5+ Miles