2050 S F 41 - Retail FOR SALE


Mikado, MI 48745
$1,570,311 USD
734-755-6359
2050 S F 41, Mikado, MI for Sale
$1,570,311 USD
Retail - FOR SALE
1/4
null | 6.75% Cap Rate

2050 S F 41
Mikado, MI 48745


HIGHLIGHTS

  • Brand New 15 Year Absolute NNN Lease
  • The Only Dollar Store Serving the Community
  • 5% Rent Increases Every 5 Years During the Primary Term!
  • 2023 BTS Plus Size | Plus Size Construction
  • Limited Competition Area | Nearest Dollar Store 10 Miles Away

OVERVIEW

Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Mikado, Michigan. 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 completed construction & successfully opened for business in November 2023. This Dollar General is highly visible as it is strategically positioned on Highway F41 and is the only dollar store serving it's community! This is a limited competition area with the next dollar store 10 miles away. The 10 mile population from the site is 7,875 while the 3 mile average household income is $53,699 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 $105,996.

FOR SALE DETAILS

PRICE

$1,570,311 USD

PRICE/SF

$148 USD /SF

CAP RATE

6.75%

% 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

2.36 AC

LAND SF

102,802 SF

ZONING

C-1

APN/PARCEL ID

092-500-009-006-00

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.