26262 M 86 - Convenience Store FOR SALE


Sturgis, MI 49091
$1,490,889 USD
734-755-6359
26262 M 86, Sturgis, MI for Sale
$1,490,889 USD
Convenience Store - FOR SALE
1/4
null | 6.75% Cap Rate

26262 M 86
Sturgis, MI 49091


HIGHLIGHTS

  • Zero Landlord Responsibilities
  • 5% RENTAL RATE INCREASES EVERY 5 YEARS
  • Seeing 3,768 Cars Per Day
  • 2023 BTS Plus Size | Plus Size Construction
  • Concrete Parking Lot
  • Three Mile Household Income $92,637

OVERVIEW

Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Sturgis, 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. This Dollar General is highly visible as it is strategically positioned on M-86 which sees 3,768 cars per day. The 10 mile population from the site is 41,101 while the 3 mile average household income is $85,037 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 6.70% cap rate based on NOI of $100,635.

FOR SALE DETAILS

PRICE

$1,490,889 USD

PRICE/SF

$140 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Plus

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

1.61 AC

LAND SF

70,132 SF

ZONING

C-1

APN/PARCEL ID

012-026-005-00

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.