Dollar General – Three Rivers, MI
Fortis Net Lease is pleased to present this 2021 BTS, 10,640 SF. Upgraded All Brick 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 has been open and operating successfully since November 2021.
This Dollar General is highly visible as it is strategically positioned on S. Main Street which sees 6,147 cars per day. The ten mile population from the site is 34,132 while the three mile average household income is $60,171 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 4.85% caprate based on NOI of $94,004.
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 2021 BTS Upgraded PLUS SIZE Construction | Now Open!
• 4 (5 Year) Options | 10% Increases At Each Option
• Concrete Parking Lot
• Three Mile Household Income $60,171
• Ten Mile Population 34,132
• 6,147 Cars Per Day
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Located only 1 Mile from Local Public Schools
• Located near Menards, Meijer, Home Depot, Aldi, and Dunham’s Sports