12900 Portage Rd - Convenience Store FOR SALE


Vicksburg, MI 49097
$2,225,504 USD
734-755-6359
12900 Portage Rd, Vicksburg, MI for Sale
$2,225,504 USD
Convenience Store - FOR SALE
1/5
null | 6.65% Cap Rate

12900 Portage Rd
Vicksburg, MI 49097


HIGHLIGHTS

  • Dollar General Market | Produce and Fresh Meats
  • 5% RENT INCREASES EVERY 5 YEARS!!
  • Located on Portage Rd | Seeing 9,617 VPD
  • 2024 BTS Construction | Plus Size
  • Five Mile Population 25,031
  • Corporate Guaranty

OVERVIEW

Fortis Net Lease is pleased to present this brand new 10,640 SF Dollar General Market store located in Vicksburg, Michigan - part of the West Michigan Market. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. 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 is currently under construction with store opening & rent on track to start in October 2024. This Dollar General Market is highly visible as it is strategically positioned off of Portage Road seeing 9,617 cars per day. The 5 mile population from the site is 25,031 while the 3 mile average household income is $74,241 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 6.65% cap rate based on NOI of $147,996.

FOR SALE DETAILS

PRICE

$2,225,504 USD

PRICE/SF

$209 USD /SF

CAP RATE

6.65%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Market

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.13 AC

LAND SF

49,223 SF

ZONING

C-1

APN/PARCEL ID

14-15-280-010

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.