7721 36th St - Retail FOR SALE


Newaygo, MI 49337
$2,062,448 USD
734-755-6359
7721 36th St, Newaygo, MI for Sale
$2,062,448 USD
Retail - FOR SALE
1/4
null | 6.7% Cap Rate

7721 36th St
Newaygo, MI 49337


HIGHLIGHTS

  • 5% RENTAL RATE INCREASES EVERY 5 YEARS
  • 2025 BTS Construction| Plus Size Footprint
  • 3 Mile Population Growth Rate 7.22%
  • 10 Mile Population 25,182 | Expected 5.43% Growth
  • Tourist Area | Home to 234 Lakes, 356 Mi of Rivers/Streams & 100K+ Acres of National Forest
  • New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities

OVERVIEW

Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General Plus store located in Newaygo, Michigan - in the heart of West 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 is currently under construction with rent and store opening on track for March 2025. This Dollar General is highly visible as it is strategically positioned on the corner of Sandra Drive and E 36th Street. The 10 mile population from the site is 25,182 while the 3 mile average household income is $67,643 per year, making this location ideal for a Dollar General. This area is also seeing great growth with the 3 mile population growth rate at 7.22%. 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 $138,184.

FOR SALE DETAILS

PRICE

$2,062,448 USD

PRICE/SF

$194 USD /SF

CAP RATE

6.7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Plus

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.59 AC

LAND SF

25,741 SF

ZONING

Commercial

APN/PARCEL ID

16-27-256-023

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.