7992 34th St - Convenience Store FOR SALE


Richland, MI 49083
$1,936,887 USD
734-755-6359
7992 34th St, Richland, MI for Sale
$1,936,887 USD
Convenience Store - FOR SALE
1/5
null | 6.65% Cap Rate

7992 34th St
Richland, MI 49083


HIGHLIGHTS

  • RELOCATION STORE | PROVEN SUCCESS IN THE MARKET!
  • Dollar General Market | Produce and Fresh Meats
  • 5% RENT INCREASES EVERY 5 YEARS!!
  • Hard Signalized Corner | 13,173 Cars Per Day!
  • Three Mile Household Income $110,207
  • Corporate Guaranty! | Limited Competition Area

OVERVIEW

Fortis Net Lease is pleased to present this brand new 12,480 SF RELOCATION Dollar General Market store located in Richland, Michigan - part of the West Michigan Market! 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% 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 currently under construction with store opening & rent on track to start in October 2024. This Dollar General Market is highly visible as it is strategically positioned on the hard signalized corner of M-89 & N 34th Street - seeing 13,173 cars per day. It is the only dollar store serving this community! The 10 mile population from the site is 97,517 while the 3 mile average household income is $110,207 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 $128,803.

FOR SALE DETAILS

PRICE

$1,936,887 USD

PRICE/SF

$155 USD /SF

CAP RATE

6.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

RELOCATION Dollar General MARKET

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

128

LAND DETAILS

LAND ACRES

2.1 AC

LAND SF

91,305 SF

ZONING

C-1

APN/PARCEL ID

03-24-101-021

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.