2033 Reynolds Rd - Retail FOR SALE


Interlochen, MI 49643
$1,614,075 USD
734-755-6359
2033 Reynolds Rd, Interlochen, MI for Sale
$1,614,075 USD
Retail - FOR SALE
1/5
null | 6.7% Cap Rate

2033 Reynolds Rd
Interlochen, MI 49643


HIGHLIGHTS

  • Corner Site Seeing 10,287 Cars Per Day | RENT INCREASES!
  • 2023 BTS Plus Size | Plus Size Construction
  • Three Mile Household Income $76,120
  • Ten Mile Population 34,544
  • Corporate Guaranty | 20,000+ Stores
  • 15 Year Absolute NNN Lease

OVERVIEW

Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Interlochen, 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 September 2023.September 2023. This Dollar General is highly visible as it is strategically positioned on the hard corner of N Reynolds Road & Honor Highway which sees 10,287 cars per day. The 10 mile population from the site is 34,544 while the 3 mile average household income is $76,120 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 6.75% cap rate based on NOI of $108,143.04.

FOR SALE DETAILS

PRICE

$1,614,075 USD

PRICE/SF

$152 USD /SF

CAP RATE

6.7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.33 AC

LAND SF

145,055 SF

ZONING

C-1

APN/PARCEL ID

08-011-012-10

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.