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Views: 168 DOM: 173 Updated: 10.15.24 Posted: 07.10.24 Status: Active

Summary

Price $606,153
Built/Renov 1994
Tenant Dollar General
Cap Rate 9.01%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 8,100
Lease Start 08-01-2019
#Units 19,986
Price/SF $74.83
Expiration 07-31-2030
Tenant Type Dollar/Discount
NOI $54,638
R. Term 5.7
Ownership Fee Simple
Rent/SF $6.75
Increases 0.0%/0/yrs
Pop 5Mi 20,493
Lot/AC 1.25
Options 2/5yrs
AHHI 5Mi $83,440

Lease Highlights

  • Dollar General has 6 years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features rental escalations at the start of each option period
  • Recent renovations include 3 new HVAC Systems installed in 2021 | Parking lot improvements in 2020
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on N Main Street, the main retail corridor, with access to 8,400 vehicles passing by daily. The property enjoys proximity within 1.9 miles of US-131 (41,400 VPD). The 5-mile trade area is supported by a population of 20,493 residents with an average household income of $83,440.Cedar Springs, situated in Kent County, Michigan, is a northern city within...

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Maps

  • 1 Mile
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  • 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 : 4,008 9,768 21,355
2024 Total Population : 3,985 9,727 21,262
2024 Employed Civilian Pop : 2,015 5,044 11,404
2024 Total Businesses : 192 391 582
2024 Average Household Income : $ 69,695 $ 96,702 $ 111,980
2024 Total Consumer Spending : $ 88 M $ 299 M $ 742 M
2024 Median Age : 34 38 39
2024 Total Households : 1,442 3,533 7,628
2024 Pop Age 25+: Bachelor's Degree : 203 827 2,423
2024 Average Home Value : $ 295,417 $ 337,037 $ 356,873
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Main Street Cedar St NE 2022 11,403 0.03 mi
SOUTH OF MUSKEGON Cedar St NE 2021 11,719 0.03 mi
West Muskegon Street Northeast S 2nd St 2022 11,573 0.12 mi
WEST OF NORTHLAND/MAIN S 2nd St 2021 11,894 0.12 mi
East Muskegon Street S 1st St 2022 6,407 0.12 mi
EAST OF NORTHLAND/MAIN S 1st St 2021 6,585 0.12 mi
NORTH OF MUSKEGON E Church St NE 2021 8,699 0.16 mi
South Main Street W Church St NE 2022 8,464 0.16 mi
NORTH OF 16 MILE Beckett Blvd 2021 8,634 0.75 mi
Northland Drive Beckett Blvd 2022 8,401 0.75 mi

Listing Broker

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