6880 Whitneyville Ave SE
Alto, MI 49302
Dollar General · Retail Property For Sale

Fortis Net Lease is pleased to present this upgraded, brick 9,100 SF Dollar General store located in Alto, MI. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (5) Yr. Options to renew, each with a 10% rental rate increase. 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 scheduled to commence on 4/20/2020. This Dollar General is highly visible and is strategically positioned on Whitneyville Ave SE which sees 6,749 cars per day. The five mile population from the site is 21,071 while the one mile average household income is $93,109 per year, making this location ideal for a Dollar General. The area is experiencing great growth with the one mile population growth rate at 5.31%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a 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 dollar store. List price reflects a 6.40% cap rate based on NOI of $88,280.