Dollar General – Three Rivers, MI
Fortis Net Lease is pleased to present this 2022 BTS 10,640 SF. Upgraded Dollar General PLUS SIZE store located in Three Rivers, 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 just completed construction and successfully opened for business on July 12, 2022.
This Dollar General is highly visible as it is strategically positioned on the corner of Johnson Road and US Highway 131 which sees 17,600 cars per day! The ten mile population from the site is 45,540 while the three mile average household income is $79,509 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 5.50% cap rate based on NOI of $104,261.
• 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2022 BTS Upgraded PLUS SIZE Construction
• Just Opened! | July 2022
• Grand Rapids-Kalamazoo-Batt le Creek Market Area
• 4 (5 Year) Options | 10% Increases At Each Option
• Concrete Parking Lot
• Three Mile Household Income $79,509
• Ten Mile Population 45,540
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Years of Same Store Sales Growth
• On Main Thoroughfare Connecting Cities