Dollar General MI Portfolio

Dollar General MI Portfolio

205 S Steer St. & 283 8 Mile Rd.
Addison & Union City, MI

Price: $3,252,000
Cap: 5.65%
NOI: $183,680
Building Size: 9,100 SF
Lot Size: 1-1.5AC

Investment Highlights

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)

 

 

 

 

 

 

 

 

 

Don McMinn
OFFERING MEMORANDUM

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