Dollar General Plus | 26262 M 86
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Dollar General Plus 26262 M 86
10,640 SF Retail Building Sturgis, MI 49091 $1,490,889 ($140/SF) 6.75% Cap Rate
Investment Highlights
- Zero Landlord Responsibilities
- Seeing 3,768 Cars Per Day
- Concrete Parking Lot
- 5% RENTAL RATE INCREASES EVERY 5 YEARS
- 2023 BTS Plus Size | Plus Size Construction
- Three Mile Household Income $92,637
Executive Summary
Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Sturgis, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate 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 completed construction & successfully opened for business in September 2023.
This Dollar General is highly visible as it is strategically positioned on M-86 which sees 3,768 cars per day. The 10 mile population from the site is 41,101 while the 3 mile average household income is $85,037 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 6.70% cap rate based on NOI of $100,635.
This Dollar General is highly visible as it is strategically positioned on M-86 which sees 3,768 cars per day. The 10 mile population from the site is 41,101 while the 3 mile average household income is $85,037 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 6.70% cap rate based on NOI of $100,635.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
10,640 SF
Building Class
C
Year Built
2023
Price
$1,490,889
Price Per SF
$140
Cap Rate
6.75%
NOI
$100,635
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.61 AC
Zoning
C-1 - Commercial
Parking
15 Spaces (1.41 Spaces per 1,000 SF Leased)
Frontage
159 FT on Michigan 86
PROPERTY TAXES
| Parcel Number | 012-026-005-00 | Improvements Assessment | $318,100 |
| Land Assessment | $10,200 | Total Assessment | $328,300 |
PROPERTY TAXES
Parcel Number
012-026-005-00
Land Assessment
$10,200
Improvements Assessment
$318,100
Total Assessment
$328,300
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Dollar General Plus | 26262 M 86
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