Dollar General – Stanwood, MI
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Stanwood, MI. 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 completing construction and will open soon, with rent scheduled to commence on 7/20/2020.
This Dollar General is highly visible as it is strategically positioned a short distance from the Highway 131 exit (seeing 14,000 cars per day) off of 8 Mile Road (seeing 4,000 cars per day) on Northland Drive (seeing 3,400 cars per day) . The ten mile population from the site is 31,755 while the three mile average household income is $66,941 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 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 6.25% cap rate based on NOI of $87,480.
• 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 $66,941
• Ten Mile Population 31,755
• 3,400 Cars Per Day on Northland Drive
• 14,000 Cars Per Day on Hwy 131 | 3,400 Cars Per Day on 8 Mile Rd
• Investment Grade Dollar Store with “BBB” Credit Rating
• DG Reported 30 Consecutive Years of Same Store Sales Growth
• No Competition Within 6+ Miles
• Only 7 Miles from Ferris State University