9454 N Greenville Rd - Freestanding FOR SALE


Lakeview, MI 48850
$1,508,035 USD
734-755-6359
9454 N Greenville Rd, Lakeview, MI for Sale
$1,508,035 USD
Freestanding - FOR SALE
1/4
null | 6.75% Cap Rate

9454 N Greenville Rd
Lakeview, MI 48850


HIGHLIGHTS

  • RELOCATION PLUS STORE! | 2022 BTS Construction
  • 5% RENTAL RATE INCREASES EVERY 5 YEARS!
  • Hard Signalized Corner Location
  • Ten Mile Population 17,883
  • 10,718 Cars Per Day at N Greenfield Rd and State Route 46
  • On Main Thoroughfare | Situated Near the Local Schools

OVERVIEW

Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General RELOCATION PLUS store located in Lakeview, 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 open & operating successfully with rent having commenced in April 2022. This Dollar General is highly visible as it is strategically positioned on the signalized corner of N Greenfield Rd and State Route 46 which sees 10,718 cars per day. The ten mile population from the site is 17,883 while the three mile average household income $64,986 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 retailer. List price reflects a 6.75% cap rate based on NOI of $101,792.

FOR SALE DETAILS

PRICE

$1,508,035 USD

PRICE/SF

$142 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.61 AC

LAND SF

70,160 SF

ZONING

-

APN/PARCEL ID

004-015-018-01

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.