756 Cedar St - Retail FOR SALE


Kalkaska, MI 49646
$2,166,511 USD
734-755-6359
756 Cedar St, Kalkaska, MI for Sale
$2,166,511 USD
Retail - FOR SALE
1/4
null | 6.65% Cap Rate

756 Cedar St
Kalkaska, MI 49646


HIGHLIGHTS

  • Dollar General Market | Produce and Fresh Meats
  • 5% RENT INCREASES EVERY 5 YEARS!
  • Corner Site | Seeing 11,944 Cars Per Day
  • 2025 BTS Plus Size Footprint
  • Centrally Located | 20 Mins E of Traverse City & W of Grayling; 30 Mins N of Cadillac, and 45 Mins S of Petoskey

OVERVIEW

Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Market store located in Kalkaska, Michigan. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. 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 & store opening on track for February 2025. This Dollar General is highly visible as it is strategically positioned on the corner of Sandy Pines Drive and Highway 131 which sees 11,944 cars per day adjacent to All Seasons Resort. The 10 mile population from the site is 13,038 while the 3 mile average household income is $57,983 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 6.65% cap rate based on NOI of $144,072.96.

FOR SALE DETAILS

PRICE

$2,166,511 USD

PRICE/SF

$204 USD /SF

CAP RATE

6.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Market

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.45 AC

LAND SF

63,162 SF

ZONING

-

APN/PARCEL ID

041-160-002-00

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.