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Views: 99 Updated: 11.20.23 Posted: 09.15.23 Status: Inactive

Summary

Price $1,634,000
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.40%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 07-01-2023
#Units 19,294
Price/SF $153.57
Expiration 06-30-2038
Tenant Type Dollar/Discount
NOI $104,562
R. Term 13.7
Ownership Fee Simple
Rent/SF $9.83
Increases 10.0%/5/yrs
Pop 5Mi 14,294
Lot/AC 2.00
Options 5/5yrs/10%
AHHI 5Mi $100,627

Lease Highlights

  • New 2023 construction featuring Dollar General’s premier prototype
  • Dollar General recently signed a brand new 15-year lease with 5 (5-year) option periods to extend
  • The lease features 10% rental increases at the beginning of each option
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NYSE: DG | S&P: BBB)

Location Description

Dollar General is strategically located near the hard corner intersection of Mason Road and Fowlerville Road, averaging a combined 12,300 vehicles passing by daily. The asset benefits from direct access onto Interstate 96 (49,900 VPD), providing direct access to Downtown Detroit to the east and Grand Rapids to the west. The surrounding tenants include Walmart Supercenter, Taco Bell,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dolgencorp, LLC
  • Guarantor:Corp T and Rated
  • Company:Dollar General Corp.
  • # Units:19,294
  • Tenant S&P: BBB
  • Moody’s: Baa3
  • Stock:NYSE: DG

About Tenant

Dollar General Corporation (NYSE: DG) is an American chain of variety stores. As of 2023, Dollar General operates more than 19,200 stores in 47 states and Mexico. The stores deliver everyday low...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 355 3,997 15,326
2023 Total Population : 338 3,784 15,092
2023 Employed Civilian Pop : 183 1,989 7,430
2023 Total Businesses : 10 33 469
2023 Average Household Income : $ 118,315 $ 114,534 $ 100,794
2023 Total Consumer Spending : $ 11 M $ 128 M $ 489 M
2023 Median Age : 41 41 41
2023 Total Households : 119 1,308 5,624
2023 Pop Age 25+: Bachelor's Degree : 58 600 2,160
2023 Average Home Value : $ 332,870 $ 330,645 $ 285,436
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Fowlerville Rd AND Kern Rd Fowlerville Rd 2021 6,265 0.24 mi
Bull Run Rd AND Fowlerville Rd Fowlerville Rd 2021 8,548 0.25 mi
Bull Run Road 2019 2,530 0.47 mi
Crofoot Rd AND Mason Rd W Mason Rd 2021 3,090 0.47 mi
Bull Run Rd Crofoot Rd 2020 2,795 0.47 mi
S Bull Run Rd Crofoot Rd 2014 2,253 0.51 mi
N Fowlerville Rd Colleen Dr 2020 3,499 0.52 mi
Mason Rd Colleen Dr 2021 3,868 0.53 mi
Fowlerville Road 2019 3,750 0.53 mi
Gregory Rd AND Bull Run Rd Corwin Dr 2021 6,087 0.70 mi

Listing Broker

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