- 15 Year Term | Four (5 Year) Options
- Absolute NNN Lease
- Three Mile Household Income $61,767
- Ten Mile Population Exceeds 67,500
- Zero Landlord Responsibilities
- Only Investment Grade Dollar Store
Fortis Net Lease is pleased to present this brand new 9,100 SF Dollar General store located in Pleasant Lake, 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 open with rent having commenced on 2/15/2017.
This Dollar General is highly visible and it is strategically positioned on Bunkerhill, in Pleasant Lake, MI. The ten mile population from the site exceeds 67,500 while the
three mile median household income exceeds $61,500 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 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 6.65% cap rate based on NOI of $85,000.