Dollar General

CONTACT US REGARDING THIS LISTING

Bryan Bender

Partner & Managing Director

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PROPERTY ADDRESS

2589 E. Apple Ave., Muskegon, MI 49442

PROPERTY INFORMATION

Price:
$1,183,753
Cap Rate:
6.50%
Term Remaining:
15 years Years
Year Built:
2018
Status:
Available

INVESTMENT HIGHLIGHTS

  • Brand New Absolute NNN Lease
  • Zero Landlord Responsibilities
  • 15 Year Term | Four (5 Year) Options
  • One Mile Household Income $37,000
  • Five Mile Population Exceeds 87,500
  • 30,800 Cars Per Day

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Muskegon, 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 rent is scheduled to commence in 1/25/2018.

This Dollar General will be highly visible as it is strategically positioned in Muskegon, MI. The five mile population from the site exceeds 87,500 while the one mile median
household income exceeds $37,000 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 $76,944.