Dollar General – Sturgis, MI
Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Sturgis, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years including at each of the 5 (5 year) options to renew! The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store completed construction & successfully opened for business in September 2023.
This Dollar General is highly visible as it is strategically positioned on M-86 which sees 3,768 cars per day. The 10 mile population from the site is 41,101 while the 3 mile average household income is $85,037 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 small box discount retailer. List price reflects a 6.70% cap rate based on NOI of $100,635.
INVESTMENT HIGHLIGHTS
• New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 5% RENTAL RATE INCREASES EVERY 5 YEARS
• Seeing 3,768 Cars Per Day
• 2023 BTS Plus Size | Plus Size Construction
• 5 (5 Year) Options | 5% Increases At Each Option
• Three Mile Household Income $85,037
• Ten Mile Population 41,101
• Investment Grade Dollar Store With “BBB” Credit Rating
• Concrete Parking Lot