2055 Marquette Ave - Storefront FOR SALE


Muskegon, MI 49442
$2,216,369 USD
734-755-6359
2055 Marquette Ave, Muskegon, MI for Sale
$2,216,369 USD
Storefront - FOR SALE
1/6
null | 6.5% Cap Rate

2055 Marquette Ave
Muskegon, MI 49442


HIGHLIGHTS

  • 5% RENTAL RATE INCREASES EVERY 5 YEARS
  • 2025 BTS Construction | Plus Size Footprint
  • Seeing 8,739 VPD | Near Signalized Intersection (7,110 VPD)
  • 5 Mile Population 90,254
  • Next to Baker College, Muskegon Community College, & Cardinal Elementary
  • Popular West Michigan Destination

OVERVIEW

Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General Plus store located in Muskegon, Michigan - a popular West Michigan destination. 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 is currently under construction with rent and store opening on track for April 2025. This Dollar General is highly visible as it is strategically positioned on Marquette Avenue seeing 8,739 cars per day, near the signalized intersection at Quarterline Road seeing 7,110 cars per day. It sits adjacent to Baker College of Muskegon campus, and across the street from Muskegon Community College! Other schools in the immediate surroundings include Cardinal Elementary, Orchard View High School, Muskegon Area Career Tech Center, and Stevenson Center for Higher Ed. The 5 mile population from the site is 90,254 while the 1 mile average household income is $52,496 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 6.50% cap rate based on NOI of $144,064.

FOR SALE DETAILS

PRICE

$2,216,369 USD

PRICE/SF

$208 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Plus

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

3.27 AC

LAND SF

142,441 SF

ZONING

C1

APN/PARCEL ID

24-760-000-0003-00

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.