Dollar General – Vandalia, MI
Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Vandalia, MI. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (5) Yr. 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 open, with rent having commenced on 12/25/2019.
This Dollar General is highly visible and is strategically positioned on the hard corner of Water Street and State Street which sees 5,867 cars per day. The ten mile population from the site is 21,098 while the three mile average household income is $78,183 per year, making this location ideal for a Dollar General. The area is experiencing great growth with the one mile population growth rate at 4.91%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a 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 5.90% cap rate based on NOI of $86,240.
• Brand New Absolute NNN Lease | Zero Landlord Responsibilities
• Concrete Parking Lot
• Four (5 Year) Options | 10% Rental Rate Increase at Each
• 5,867 Cars Per Day on State Street
• Three Mile Household Income $78,183
• Ten Mile Population 21,098
• One Mile Population Growth Rate 4.91%
• Dollar General announced 30 Straight Years of Same Store Sales Growth
• Only Dollar Store Serving the Community