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1260 N Main St 9,100 SF Retail Building
ABOUT 1260 N MAIN ST , ADRIAN , MI 49221
| Price | Not Individually For Sale | Building Class | A |
| Building Size | 9,100 SF | Lot Size | 2.30 AC |
| Property Type | Retail | Tenancy | Single |
| Property Subtype | Freestanding |
| Price | Not Individually For Sale |
| Building Size | 9,100 SF |
| Property Type | Retail |
| Property Subtype | Freestanding |
| Building Class | A |
| Lot Size | 2.30 AC |
| Tenancy | Single |
EXECUTIVE SUMMARY
Description
Fortis Net Lease is pleased to present this brand new 9,100 SF Dollar General store, located in Adrian, 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 parking lot is poured in concrete. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of BBB- , and is classifed Investment Grade.
This Dollar General is strategically positioned on Main St, a main retail thoroughfare in Adrian, MI. The population within a five mile radius from the Dollar General location is greater than 38,500, with the average household income within a one mile radius being $41,202. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a passive investor to attain the fee simple ownership of a newer Dollar General. This investment will offer the 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 6.50% cap rate based on NOI of $94,590.36
Fortis Net Lease is pleased to present this brand new 9,100 SF Dollar General store, located in Adrian, 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 parking lot is poured in concrete. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of BBB- , and is classifed Investment Grade.
This Dollar General is strategically positioned on Main St, a main retail thoroughfare in Adrian, MI. The population within a five mile radius from the Dollar General location is greater than 38,500, with the average household income within a one mile radius being $41,202. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a passive investor to attain the fee simple ownership of a newer Dollar General. This investment will offer the 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 6.50% cap rate based on NOI of $94,590.36
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