Dollar General 2050 S F 41

Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Mikado, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 year) options to renew! The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store completed construction & successfully opened for business in November 2023.
This Dollar General is highly visible as it is strategically positioned on Highway F41 and is the only dollar store serving it's community! This is a limited competition area with the next dollar store 10 miles away. The 10 mile population from the site is 7,875 while the 3 mile average household income is $53,699 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 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 small box discount retailer. List price reflects a 6.75% cap rate based on NOI of $105,996.