5035 E Berry Rd - Storefront FOR SALE


Pleasant Lake, MI 49272
$1,612,745 USD
248-415-2636
5035 E Berry Rd, Pleasant Lake, MI for Sale
$1,612,745 USD
Storefront - FOR SALE
1/5
null | 7.65% Cap Rate

5035 E Berry Rd
Pleasant Lake, MI 49272


HIGHLIGHTS

  • New Construction Family Dollar | 2024 Build-To-Suit
  • "Family Dollar Stores of Michigan, LLC" Lease Entity | Publicly Traded (NYSE: DLTR / S&P: BBB)
  • 10-Year Initial Double-Net Lease with (5) 5-Year Options | $0.50/SF Rent Increases in Each Option
  • High Visibility on E Berry Rd Near Corner of Bunkehill Rd | Bunkehill Rd Provides Direct Route to Jackson
  • Limited Competition: One of Only Two Dollar Stores within 8 Miles
  • 9 Miles Northeast of Jackson

OVERVIEW

ADDITIONAL INVESTMENT OPPORTUNITIES AVAILABLE / PORTFOLIO OR INDIVIDUAL SALE OPTIONS * See Offering Memorandum Or Contact Listing Broker For More Details. Marcus & Millichap is pleased to present the newly constructed, corporate Family Dollar located at 5035 E Berry Road in Pleasant Lake, Michigan. Family Dollar (Standard & Poor’s BBB STABLE) has an initial 10-year lease with five five-year options to renew. Each option will contain a $0.50 per square-foot rent increase. Family Dollar is subject to a corporately guaranteed double-net lease with limited landlord responsibilities. Dollar Tree, Inc., ranked 137 on the Fortune 500 list, is a leading operator of discount variety stores that have served North America for more than 63 years. Operating under the brands Dollar Tree and Family Dollar, the company is headquartered in Chesapeake, Virginia and operates nearly 16,500 stores across the 48 contiguous states and five Canadian provinces, supported by a coast-to-coast logistics network and more than 200,000 associates. In June 2015, Dollar Tree acquired Family Dollar Stores, Inc. and its’ more than 8,200 stores, which made Dollar Tree Inc, the leading operator of discount variety retail stores. The subject property is well-positioned on E Berry Road with high visibility, and near the corner of Bunkehill Road. Bunkehill Road serves as a direct route to Jackson, providing easy commutes for residents. E Berry Road also serves as a main road and connects to US-127 (five miles away). This Family Dollar benefits from its ability to serve local residents as it is one of only two dollar stores in town and the next nearest being eight miles away. Pleasant Lake / Henrietta Township is a community located in Jackson County of south-central Michigan. The asset is centrally located near larger markets including Jackson (nine miles), Lansing (30 miles), and Ann Arbor (35 miles). This Family Dollar provides an investor with a stabilized investment grade asset with limited landlord responsibilities.

FOR SALE DETAILS

PRICE

$1,612,745 USD

PRICE/SF

$154 USD /SF

CAP RATE

7.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Convenience Store, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

42

LAND DETAILS

LAND ACRES

2.66 AC

LAND SF

115,870 SF

ZONING

Commercial

APN/PARCEL ID

000-04-21-101-003-04

ASK ABOUT THIS PROPERTY

Ashish VakhariyaMarcus & MillichapMore Info
248-415-2636

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Ashish VakhariyaMarcus & MillichapMore Info
248-415-2636

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.