Dollar General – Thompsonville, MI

$1,663,550
Price
$88,999.92
Noi
5.35%
Cap Rate
10,566
Leasable Area
2022
Year Built

Fortis Net Lease is pleased to present this brand new, 10,566 SF. Dollar General Plus store located in Thompsonville, Michigan just 5 minutes away from the very popular ski resort, Crystal Mountain. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5 (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 currently under construction and with rent commencement on track for November 2022.

This Dollar General is highly visible as it is strategically positioned on Lincoln Street and is the only dollar store serving the community! The ten mile population from the site is 9,000 while the three mile average household income $57,578 per year, making this location ideal for a Dollar General. This area is also experiencing steady growth in population. 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 5.35% cap rate based on NOI of $88,999.92.

INVESTMENT HIGHLIGHTS
• Brand New 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2022 BTS Plus Size & Upgraded Construction
• 2.6 Miles (5 Minute Drive) from Popular Crystal Mountain Ski & Golf Resort & Spa
• The Only Dollar Store Serving the Community
• 5 (5 Year) Options | 10% Increases At Each Option
• Three Mile Household Income $57,578
• Ten Mile Population 9,000 | Expected 3.14% Growth
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM