12009 N Woodbridge Ave - Retail FOR SALE


Bitely, MI 49309
$1,424,578 USD
734-755-6359
12009 N Woodbridge Ave, Bitely, MI for Sale
$1,424,578 USD
Retail - FOR SALE
1/4
null | 6.75% Cap Rate

12009 N Woodbridge Ave
Bitely, MI 49309


HIGHLIGHTS

  • Zero Landlord Responsibilities
  • 5% RENT INCREASES EVERY 5 YEARS!
  • Corner Site | Seeing 3,522 Cars Per Day
  • 2023 BTS Plus Size | Plus Size Construction
  • Concrete Parking Lot
  • Limited Competition Area | Next Dollar Store 6 Miles Away

OVERVIEW

Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Bitely, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate 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 August 2023. This Dollar General is highly visible as it is strategically positioned on the hard corner of W 15 Mile Road and Woodbridge Avenue which sees 3,522 cars per day, in a limited competition area with the next dollar store 6 miles away. The 10 mile population from the site is 8,158 while the 3 mile average household income is $51,423 per year, making this location ideal for a Dollar General. This area is seeing great growth with the 10 mile population growth rate at 5.44%. 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 6.75% cap rate based on NOI of $96,159.

FOR SALE DETAILS

PRICE

$1,424,578 USD

PRICE/SF

$134 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Plus

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.22 AC

LAND SF

183,823 SF

ZONING

C-1

APN/PARCEL ID

02-15-300-014

ASK ABOUT THIS PROPERTY

Bryan BenderFortis Net LeaseMore Info
734-755-6359

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Bryan BenderFortis Net LeaseMore Info
734-755-6359

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.