Dollar General – Traverse City, MI

$1,597,305
Price
$94,241
Noi
5.90%
Cap Rate
10,640
Leasable Area
2023
Year Built

Fortis Net Lease is pleased to present this 2023 BTS, 10,640 SF. Upgraded Dollar General store located in Traverse City (Grawn), Michigan. The property offers a Fifteen (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 has been open and operating successfully since March 2023.

This Dollar General is highly visible as it is strategically positioned on US 31 which sees 20,290 cars per day. The five mile population from the site is 21,816 while the one mile average household income is $75,029 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 a5.90% cap rate based on NOI of $94,241.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease
• Zero Landlord Responsibilities
• 2023 BTS Upgraded & Plus Size Construction
• Opened in March 2023
• 5 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $75,029
• Five Mile Population 21,816 & Growing
• 20,290 Cars Per Day on US 31
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 32 Consecutive Years of Same Store Sales Growth
• Located on Main Thoroughfare

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM