Dollar General

Dollar General

2695 Eaton Rapids Road
Lansing, MI

Price: $1,547,000
Cap: 6.00%
NOI: $92,794
Building Size: 9,100 SF
Lot Size: 1.95 AC

Investment Highlights

BRAND NEW CONSTRUCTION
• Brand New 9,100 SF Build to Suit Dollar General in Lansing, MI.
• This store is currently under construction and is scheduled for delivery July 2020.

ATTRACTIVE RETAIL LOCATION
• The subject property is well located on MI-99 (21,000 VPD) which is a retail corridor right off I-96 (47,326 VPD)
• The 5 mile population related to the subject property is 110,470 which is superior to most Dollar General locations
• Surrounding national retailers include McDonalds, Wendy’s, Speedway, Subway, Tim Hortons, Sunoco, La Frontera, and More.
• This store is located approximately 6 miles from Downtown Lansing and approximately 10 miles from Michigan State University

LANSING
• Lansing is the capital of Michigan and has a population of 114,296, the fifth largest in the State
• Home to Michigan State University has the largest land campus in the U.S. which has an enrollment of nearly 50,000 and an alumni base of 634,300
• The Lansing metropolitan area’s major industries are government, education, insurance, healthcare, and automobile manufacturing
• The Lansing area is headquarters to four major national insurance companies: Auto-Owners Insurance Company, Jackson National Life, the Accident Fund, and Michigan Millers Insurance Company
• General Motors has offices and a hi-tech manufacturing facility in Lansing and several manufacturing facilities immediately outside the city

LONG TERM CORPORATE ABSOLUTE NNN LEASE
• Brand new, 15-year corporate guaranteed lease with Dollar General
• Tenant is 100% responsible for all expenses, which include taxes, CAM, insurance, roof and structure
• 10% rent increases in each of the five, 5-year option periods

INVESTMENT GRADE TENANT
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 Company and is BBB investment grade rated.
• There are currently over 15,839 locations in 45 states and 975 new locations expected to be opened this year.
• Dollar General has been in business for over 80 years and has a current net worth of over $6B.

DOCUMENTS
Don McMinn
OFFERING MEMORANDUM

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