Dollar General

CONTACT US REGARDING THIS LISTING

Bryan Bender

Partner & Managing Director

PROPERTY ADDRESS

711 E Michigan Ave., Paw Paw., MI 49079

PROPERTY INFORMATION

Price:
$1,445,292
Cap Rate:
6.50%
Term Remaining:
15 years Years
Year Built:
2018

INVESTMENT HIGHLIGHTS

  • Brand New Absolute NNN Lease
  • Zero Landlord Responsibilities
  • Rare Relocaiton Store
  • 15 Year Term | Four (5 Year) Options
  • One Mile Household Income $40,500
  • Five Mile Population Exceeds 19,000
  • 10,124 Cars Per Day

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Paw Paw, MI. The property is encumbered with a Fifteen (15) Year Absolute NNN
Lease, leaving zero landlord responsibilities. The store is classified as a relocation store, proving success in the local market. 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 rent is scheduled to commence in 2/12/2018.

This Dollar General will be highly visible as it is strategically positioned in Paw Paw, MI. The five mile population from the site exceeds 19,000 while the one mile median
household income exceeds $40,500 per year, making this location perfect 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 6.50% cap rate based on NOI of $93,944.