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 | On Main Thoroughfare | Situated Near the Local Schools
  • Ten Mile Population 17,883
  • 10,718 Cars Per Day at N Greenfield Rd and State Route 46
  • On the Same Corner as a McDonalds, Gas Station, Church & Bank

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.