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Dollar General, St. Clair, MI

Dollar General

Price $1,293,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases In Option Periods
Year Built 2019
Building Size 9,026 SF
Lot Size 2.12 Acres (92,347 SF)
Status Under Contract
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

15-YEAR NNN LEASE WITH CORPORATE GUARANTY
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management
» Ideal investment opportunity for an out-of-area investor

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s yearly revenues exceed $27.8 billion
» Dollar General operates more than 16,350 locations in 45 states and has plans for significant future growth

HIGH-EXPOSURE LOCATION AND ACCESS TO MAIN THOROUGHFARES
» 67,000 residents within a 10-mile radius
» Minutes from major Michigan thoroughfare Interstate 94 (“The Bridge to Canada”)
» Five miles from St. Clair County International Airport
» Short drive to Canadian border

CENTRAL LOCATION TO MULTIPLE TOURIST ATTRACTIONS AND OUTDOOR RECREATION AREAS
» Central location between Lake Huron, Lake St. Clair, and Lake Erie (combined $3.7 billion annual economic impact in Southeast Michigan)
» Walking distance from Rattle Run Farms
» $98,563 average household income within one-mile radius


Property Description

SOLD

The property is conveniently located on Gratiot Avenue, which has excellent visibility and access to 67,000+ residents within a ten-mile radius of the location. The site resides less than two miles from major Michigan thoroughfare Interstate 94, which experiences a high traffic count of 29,604 vehicles per day and leads to nearby Ontario, Canada. The location is five miles from St. Clair County International Airport, which in addition to international flight services also offers flight training, aircraft rentals, and special occasion flights.

The property benefits from its central location near multiple tourist attractions and outdoor recreation areas. Visibility is increased by the property’s location between Lake Huron, Lake St. Clair, and Lake Erie (combined $3.7 billion annual economic impact in Southeast Michigan). The location is within walking distance of Rattle Run Farms, a 200-acre equestrian and event center that’s open year-round. The site is supported by an affluent surrounding demographic, with an average household income of $98,563 within a one-mile radius of the property.

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