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Views: 116 DOM: 530 Updated: 09.10.24 Posted: 04.05.23 Status: Active

Summary

Price $1,253,333
Built/Renov 1974/2022
Tenant Dollar General
Cap Rate 7.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 12,198
Lease Start 02-28-2022
#Units 19,986
Price/SF $102.75
Expiration 02-27-2032
Tenant Type Dollar/Discount
NOI $94,000
R. Term 7.5
Ownership Fee Simple
Rent/SF $7.71
Increases 10.0%/4/yrs
Pop 5Mi 396,225
Lot/AC 0.81
Options 4/5yrs/10%
AHHI 5Mi $34,172

Lease Highlights

  • New 2022 renovation
  • The tenant has over 8.5 years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at each option period
  • Favorable NN+ lease with landlord responsibilites limited to roof and structure
  • Corporate guarentee by Dollar General Corp. (NYSE: DG)
  • Dollar General is an investment grade tenant (S&P: BBB)

Location Description

This newly renovated Dollar General is positioned at the hard corner intersection of Joy Road and Dexter Avenue which sees nearly 9,000 vehicles passing per day. Located 10 minutes from Downtown Detroit, the site is surrounded by local retail, dining and entertainment. Nearby major national tenants include Whole Foods Market, Little Caesars Pizza, McDonald’s, Ace Hardware, White Castle,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Dollar General Corporation (NYSE: DG) is an American chain of  variety stores . The stores deliver everyday low prices on items including food, snacks, health, and beauty aids, cleaning...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 13,887 128,129 387,524
2023 Total Population : 14,009 128,525 389,460
2023 Employed Civilian Pop : 4,546 43,241 132,436
2023 Total Businesses : 233 3,313 11,991
2023 Average Household Income : $ 49,085 $ 49,846 $ 55,551
2023 Total Consumer Spending : $ 255 M $ 2325 M $ 7312 M
2023 Median Age : 40 36 35
2023 Total Households : 5,864 52,660 148,864
2023 Pop Age 25+: Bachelor's Degree : 772 9,573 31,426
2023 Average Home Value : $ 146,403 $ 144,717 $ 160,864
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Chicago Blvd AND Wager St Edison St 2021 8,293 0.20 mi
CHICAGO/DEXTER CUTOFF (IN DETROIT) Dexter Ave 2021 271 0.25 mi
2019 279 0.25 mi
Dexter Avenue 2019 4,957 0.26 mi
Quincy St Taylor St 2009 1,070 0.29 mi
McQuade Street 2019 1,186 0.30 mi
BETWEEN CHICAGO N AND S JCT (IN DETROIT) W Chicago Blvd 2021 1,154 0.30 mi
BETWEEN QUINCY AND HOLMUR (IN DETROIT) Holmur Ave 2021 720 0.34 mi
BETWEEN CHICAGO AND KAY (IN DETROIT) W Chicago Blvd 2021 1,414 0.38 mi
BETWEEN MACKINAW AND OTSEGO (IN DETROIT) Otsego Ave 2021 9,047 0.39 mi

Listing Broker

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