6969 Saddler Rd - Convenience Store FOR SALE


Chase, MI 49623
$1,867,660 USD
734-755-6359
6969 Saddler Rd, Chase, MI for Sale
$1,867,660 USD
Convenience Store - FOR SALE
1/4
null | 6.75% Cap Rate

6969 Saddler Rd
Chase, MI 49623


HIGHLIGHTS

  • 5% Rent Increases Every 5 Years during the Primary Term!
  • Corner Location | 5,201 VPD
  • 2024 BTS Plus Size | Plus Size Construction
  • Three Mile Household Income $63,758
  • The Only Dollar Store Serving the Community!
  • Ten Mile Population 10,703 and Growing

OVERVIEW

Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General Plus store located in Chase, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. It is the only dollar store serving the community! 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 is under construction with rent & store opening on track for June 2024. This Dollar General is highly visible as it is strategically positioned on the corner of S Saddler Road and Highway 10 which sees 5,201 cars per day. It is on a main thoroughfare connecting cities. The 10 mile population from the site is 10,703 while the 3 mile average household income is $63,758 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 $126,067.08.

FOR SALE DETAILS

PRICE

$1,867,660 USD

PRICE/SF

$176 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Plus with Bumps

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

C-1

APN/PARCEL ID

16-004-026-00

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.