Dollar General Plus-Relocation | 1393 M 139 Hwy
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Dollar General Plus-Relocation 1393 M 139 Hwy
10,640 SF Retail Building Benton Harbor, MI 49022 $1,885,774 ($177/SF) 6.65% Cap Rate
Investment Highlights
- RELOCATION STORE | PROVEN SUCCESS IN THE MARKET!
- 2024 BTS Construction | Plus Size Store.
- 5% RENT INCREASES EVERY 5 YEARS!!
- Easy on/off access to I-94 Exit | On Main Thoroughfare.
- Investment Grade Dollar Store With "BBB" Credit Rating.
- Five Mile Population 47,438 | Corporate Guaranty!
Executive Summary
Fortis Net Lease is pleased to present this brand new 10,640 SF RELOCATION Dollar General Plus store located in Benton Harbor, Michigan - a popular tourist destination! The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 year) options to renew. 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 with store opening & rent on track to start in October 2024.
This Dollar General Market is highly visible as it is strategically positioned off M-139 seeing 11,831 cars per day! The 5 mile population from the site is 47,438 while the 3 mile average household income is $60,934 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 small box discount retailer. List price reflects a 6.65% cap rate based on NOI of $125,404.
This Dollar General Market is highly visible as it is strategically positioned off M-139 seeing 11,831 cars per day! The 5 mile population from the site is 47,438 while the 3 mile average household income is $60,934 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 small box discount retailer. List price reflects a 6.65% cap rate based on NOI of $125,404.
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
10,640 SF
Building Class
C
Year Built
2024
Price
$1,885,774
Price Per SF
$177
Cap Rate
6.65%
NOI
$125,404
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.33 AC
Opportunity Zone
Yes
Zoning
C-1 - Commercial
Frontage
118 FT on Michigan 139
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 11-03-0029-0024-16-1 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $16,300 |
PROPERTY TAXES
Parcel Number
11-03-0029-0024-16-1
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$16,300
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Dollar General Plus-Relocation | 1393 M 139 Hwy
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