Dollar General

CONTACT US REGARDING THIS LISTING

Bryan Bender

Partner & Managing Director

PROPERTY ADDRESS

57727 Gratiot Ave., New Haven, MI 48048

PROPERTY INFORMATION

Price:
$1,543,661
Cap Rate:
6.50%
Term Remaining:
15 Years
Year Built:
2017

INVESTMENT HIGHLIGHTS

  • Brand New Absolute NNN Lease
  • Zero Landlord Responsibilities
  • 15 Year Term | Four (5 Year) Options
  • One Mile Household Income $52,552
  • Five Mile Population Exceeds 59,000
  • Only Investment Grade Dollar Store
  • 22,131 Cars Per Day on Gratiot Ave

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present this 9,026 SF Dollar General store located in New Haven, 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 on 12/15/2017.

This Dollar General will be highly visible as it is strategically positioned on Gratiot Ave in New Haven, MI. The five mile population from the site exceeds 59,000, while
the one mile median household income exceeds $52,552 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 6.50% cap rate based on NOI of $100,338.