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Views: 116 Updated: 12.16.24 Posted: 06.20.24 Status: Inactive 12.16.24

Summary

Price $1,838,475
Built/Renov 2024
Tenant Dollar General
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,542
Lease Start 03-28-2024
#Units 19,986
Price/SF $174.40
Expiration 03-31-2039
Tenant Type Dollar/Discount
NOI $119,501
R. Term 14.3
Ownership Fee Simple
Rent/SF $11.34
Increases 5.0%/5/yrs
Pop 5Mi 74,793
Lot/AC 5.47
Options 5/5yrs/5%
AHHI 5Mi $61,278

Lease Highlights

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

Location Description

Dollar General is strategically located on South Mill Iron Road, a primary north/south thoroughfare, with access to 4,647 vehicles passing by daily. Additionally, it is approximately 2 miles northeast from Walmart Supercenter, Sam’s Club, Harbor Freight, Lowe’s, PetSmart, McDonald's, Big Lots, and more. In the immediate vicinity is the Trinity Health Hospital of Muskegon. The 5-mile trade area...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar General
  • Guarantor:Corp T and Rated
  • Company:Dollar General Corp.
  • # Units:19,986
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: DG

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 supplies,...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 3,587 29,726 74,825
2024 Total Population : 3,616 29,830 74,846
2024 Employed Civilian Pop : 1,334 11,375 30,162
2024 Total Businesses : 44 746 2,135
2024 Average Household Income : $ 59,055 $ 68,388 $ 62,256
2024 Total Consumer Spending : $ 73 M $ 638 M $ 1563 M
2024 Median Age : 40 40 38
2024 Total Households : 1,380 10,415 27,992
2024 Pop Age 25+: Bachelor's Degree : 161 2,297 5,273
2024 Average Home Value : $ 142,638 $ 186,347 $ 183,650
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Mill Iron Road Evanston Ave 2022 4,760 0.05 mi
South Mill Iron Road E Broadway Ave 2022 8,362 0.61 mi
Brooks Road South E Laketon Ave 2022 1,211 0.84 mi
S Mill Iron Rd 2022 6,240 0.86 mi
S Mill Iron Rd 2022 4,756 0.89 mi
South Mill Iron Road Apple Ave 2022 5,117 0.94 mi
East Laketon Avenue S Walker Rd 2022 4,515 0.95 mi
Max Paulsen Dr 2022 5,304 1.20 mi
Evanston Avenue S Sheridan Dr 2022 4,427 1.31 mi
South Dangl Road Donald Ave 2022 846 1.41 mi

Listing Broker

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