Dollar General
9,413 SF | Retail Building | Brohman, MI 49312 | $1,114,735 ($118/SF) | 7.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,114,735
- Property Type
-
Retail
- Square Feet
- 9,413 SF
- Price / Square Foot
- $118
Listing Contacts
Robert Bender
Verified Profile
Doug Passon
Verified Profile
- Property Info
Property Overview
Fortis Net Lease is pleased to present this 9,413 SF Dollar General store located in Brohman, MI. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease has remaining 5 (5 year) 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 has been open & operating successfully since October 2017. This Dollar General is highly visible as it is strategically positioned at the intersection of N Woodbridge Road and W Lincoln Street which sees 5,154 vehicles per day. The ten mile population from the site is 7,888 while the ten mile average household income $54,868 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 dollar store.
Property Details
- Class
- C
- Year Built
- 2018
- Stories
- 1
- Property Subtype
- Grocery/Convenience Store
- Lot Size (sq. ft)
- 87,120 SF
Highlights
- 15 Year Absolute NNN Lease
- Zero Landlord Responsibilities
- 5 (5 Year) Options | 10% Increases At Each Option
- 5,154 Vehicles Per Day
- Investment Grade Dollar Store With "BBB" Credit Rating
- On Main Thoroughfare
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