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Views: 94 DOM: 179 Updated: 10.30.24 Posted: 06.25.24 Status: Active

Summary

Price $1,628,812
Built/Renov 2024
Tenant Dollar General Plus
Cap Rate 6.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 03-21-2024
#Units 19,986
Price/SF $153.08
Expiration 03-31-2039
Tenant Type Dollar/Discount
NOI $108,316
R. Term 14.3
Ownership Fee Simple
Rent/SF $10.18
Increases 5.0%/5/yrs
Pop 5Mi 4,539
Lot/AC 1.86
Options 5/5yrs/5%
AHHI 5Mi $59,980

Lease Highlights

  • Brand new 2024 construction | Plus size design
  • Dollar General has 14+ years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 5% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on N Highway 131, with access to 6,100 vehicles passing by daily. The property is surrounded by well-known national tenants, including Subway, Shell, Ace Hardware, Family Dollar, and more. The 5-mile trade area is supported by a population of 4,539 residents with an average household income of $59,980. Manton is a city in Wexford County, Michigan, with a...

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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
2029 Total Population : 35 371 1,737
2024 Total Population : 34 365 1,716
2024 Employed Civilian Pop : 13 154 738
2024 Total Businesses : 0 7 29
2024 Average Household Income : $ 80,585 $ 82,863 $ 84,493
2024 Total Consumer Spending : $ 0 M $ 11 M $ 50 M
2024 Median Age : 39 43 42
2024 Total Households : 11 160 667
2024 Pop Age 25+: Bachelor's Degree : 3 44 188
2024 Average Home Value : $ 200,000 $ 253,901 $ 259,806
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N US Hwy 131 E Elliott Rd 2015 8,400 1.39 mi
North Michigan Avenue Chippawa Landing 2022 11,953 1.44 mi
US-131 E Elliott Rd 2022 11,600 1.60 mi
East No 2 Road West Dr 2022 11 1.67 mi
US-131 Ramsay Rd 2022 6,802 1.98 mi
US Hwy 131 No 8 Rd 2015 9,100 2.18 mi
State Hwy 113 Walton Rd 2015 6,000 2.99 mi

Listing Broker

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