- Brand New Absolute NNN Lease
- Zero Landlord Responsibilities
- 15 Year Term | Five (5 Year) Options
- One Mile Household Income $43,738
- Five Mile Population Exceeds 369,000
- Only Investment Grade Dollar Store
- 21,095 Cars Per Day on 9 Mile
Fortis Net Lease is pleased to present this 7,489 SF Dollar General store located in Eastpointe, MI. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Five (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 rent is anticipated to commence on 2/1/2018.
This Dollar General will be highly visible as it is strategically positioned on 9 Mile Rd, in Eastpointe, MI. The five mile population from the site exceeds 369,000, while
the one mile median household income exceeds $43,738 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 a brand new 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 6.40% cap rate based on NOI of $105,567.