Dollar General Market 756 Cedar St

Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Market store located in Kalkaska, Michigan. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate 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 is currently under construction with rent & store opening on track for February 2025.
This Dollar General is highly visible as it is strategically positioned on the corner of Sandy Pines Drive and Highway 131 which sees 11,944 cars per day adjacent to All Seasons Resort. The 10 mile population from the site is 13,038 while the 3 mile average household income is $57,983 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 6.65% cap rate based on NOI of $144,072.96.