1420 Main st 10,640 SF Retail Building Niles, MI 49120 $1,731,135 ($162.70/SF) 6.55% Cap Rate

Fortis Net Lease is pleased to present this 10,640 SF. Dollar General Plus store located in Niles, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent 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 completed construction & successfully opened for business in October 2023.
This Dollar General is highly visible as it is strategically positioned on E Main Street which sees 11,101 cars per day. The 5 mile population from the site is 34,114 while the 1 mile average household income is $55,911 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 6.55% cap rate based on NOI of $113,389.32.