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Dollar General | Michigan Portfolio

205 S Steer St, Addison, MI 49220

Listing Price: $3,252,000

Cap Rate
5.65%
Tenant Name
Dollar General
Years Remaining On Lease
13.2
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.18

Investment Overview

TWO NEWER CONSTRUCTION MI DOLLAR GENERALS • These two Dollar Generals were built in 2019, are both 9,100 SF, and located in Addison & Union City, MI. LONG TERM CORPORATE NNN LEASES • The Dollar General in Addison, MI has over 13 years remaining on a 15-year corporate guaranteed NNN lease with Dollar General. • The Dollar General in Union City, MI has over 12 Years remaining on a 15-year corporate guaranteed NNN lease with Dollar General. • Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof and structure. • There are 10% rent increases in each of the five, 5-year option periods for both Dollar Generals. INVESTMENT GRADE TENANT • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB. • Currently over 18,000 locations in 47 states and they are expanding by 1,000 stores each year. • Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion. ADDISON, MI • This Dollar General is located in Addison, MI on a hard corner site that is highly visible with access off Mason St. • Addison, MI is only 15 miles south of Jackson, MI. Jackson is the county seat of Jackson County and has a total MSA population of 160,248. • Jackson is home to multiple colleges including Baker College (35,000 Students), Jackson College (5,487 Students) and more. • National retailers in Jackson include Harbor Freight Tools, Meijer, Target, Home Depot, and many more. UNION CITY, MI • This Dollar General is located in Union City on a hard corner site that is highly visible with access points on 8 Mile Rd and M-60. • The Dollar General in Union City is only 20 minutes south of Kalamazoo & Battle Creek, MI. • Kalamazoo & Battle Creek have a combined MSA population of 471,000 and are home to multiple corporate headquarters including the Kellogg Company with over 2,000 employees. • Kalamazoo is home to multiple Universities and Colleges including Western Michigan University (19,887 Students), Kalamazoo Valley College (11,398 Students) and Davenport University (7,232 Students) • The Kalamazoo/Battle Creek International Airport supports over 236,000 passengers annually. ATTRACTIVE ASSUMABLE FINANCING • These two Dollar Generals are cross-collateralized with CMBS financing and must be purchased as a portfolio. (See page 3 for details)

Investment Highlights

  • Two Newer Construction MI Dollar Generals
  • Long Term NNN Leases
  • Investment Grade Tenant | 18,000 Locations
  • Lower Price Point Deals
  • Attractive Assumable Financing

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

Discount

Dollar General | Michigan Portfolio

Listing Price: $3,252,000

Cap Rate
5.65%
Tenant Name
Dollar General
Years Remaining On Lease
13.2
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.18

Investment Highlights

  • Two Newer Construction MI Dollar Generals
  • Long Term NNN Leases
  • Investment Grade Tenant | 18,000 Locations
  • Lower Price Point Deals
  • Attractive Assumable Financing

Investment Overview

TWO NEWER CONSTRUCTION MI DOLLAR GENERALS • These two Dollar Generals were built in 2019, are both 9,100 SF, and located in Addison & Union City, MI. LONG TERM CORPORATE NNN LEASES • The Dollar General in Addison, MI has over 13 years remaining on a 15-year corporate guaranteed NNN lease with Dollar General. • The Dollar General in Union City, MI has over 12 Years remaining on a 15-year corporate guaranteed NNN lease with Dollar General. • Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof and structure. • There are 10% rent increases in each of the five, 5-year option periods for both Dollar Generals. INVESTMENT GRADE TENANT • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB. • Currently over 18,000 locations in 47 states and they are expanding by 1,000 stores each year. • Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion. ADDISON, MI • This Dollar General is located in Addison, MI on a hard corner site that is highly visible with access off Mason St. • Addison, MI is only 15 miles south of Jackson, MI. Jackson is the county seat of Jackson County and has a total MSA population of 160,248. • Jackson is home to multiple colleges including Baker College (35,000 Students), Jackson College (5,487 Students) and more. • National retailers in Jackson include Harbor Freight Tools, Meijer, Target, Home Depot, and many more. UNION CITY, MI • This Dollar General is located in Union City on a hard corner site that is highly visible with access points on 8 Mile Rd and M-60. • The Dollar General in Union City is only 20 minutes south of Kalamazoo & Battle Creek, MI. • Kalamazoo & Battle Creek have a combined MSA population of 471,000 and are home to multiple corporate headquarters including the Kellogg Company with over 2,000 employees. • Kalamazoo is home to multiple Universities and Colleges including Western Michigan University (19,887 Students), Kalamazoo Valley College (11,398 Students) and Davenport University (7,232 Students) • The Kalamazoo/Battle Creek International Airport supports over 236,000 passengers annually. ATTRACTIVE ASSUMABLE FINANCING • These two Dollar Generals are cross-collateralized with CMBS financing and must be purchased as a portfolio. (See page 3 for details)

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

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