Dollar General Plus with Bumps 5866 M 65

Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General Plus store located in Hale, Michigan. 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 rent & store opening on track for February 2025.
This Dollar General plus is highly visible as it is strategically positioned off of M-65 which sees 2,864 cars per day. The 10 mile population from the site is 7,981 while the 3 mile average household income is $43,635 per year, making this location ideal for a Dollar General. This area is seeing excellent growth with the 5 mile population growth rate at 6.26%. 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 the initial NOI of $138,000.