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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 13.11
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

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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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Jack Collins

Northmarq

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  • 6 Listings
  • 1030 Views
  • 0 Sold
BJ Feller

Northmarq

Contact
  • 56 Listings
  • 12205 Views
  • 15 Sold

Jack Collins serves as an associate vice president on Northmarq’s Chicago retail investment sales team. Jack specializes in the disposition and acquisition of single tenant retail properties for a wide range of real estate institutions, developers, private equity groups, operators and private investors. Jack's dedication to maximize value through his straightforward and detail-oriented approach is what makes him a tremendous asset to his clients. Recognized for his honesty and execution, Jack c

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BJ Feller is a Senior Vice President and Managing Director of Northmarq’s Chicago office, leading a team of professionals specializing in the disposition and acquisition of net lease retail, office and industrial properties nationally. Feller represents a broad range of institutional, private, and international clients, and has completed transactions in excess of $4.5 billion across 39 states, consistently providing strong results for clients. Before joining Northmarq, Feller served as Managing

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Christian Tremblay

Northmarq

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  • 34 Listings
  • 7246 Views
  • 5 Sold
Isaiah Harf

Northmarq

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  • 60 Listings
  • 9583 Views
  • 17 Sold

Christian Tremblay is a vice president located in Northmarq’s Chicago office. Christian specializes in the disposition and acquisition of single-tenant net lease retail, cannabis and industrial properties throughout the United States. Christian has closed more than $500 million in total transaction volume. Before Northmarq, Christian served as a director in Stan Johnson Company’s Chicago office. Prior to Stan Johnson Company, Christian was a vice president with Mid-America Real Estate Corpo

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Isaiah Harf is the Regional and Managing Director for Northmarq’s Chicago office and has been with the firm since October 2011. Focusing on the sale of net leased assets, Harf has closed more than $3 Billion in total transaction volume and has partnered with some of the nation’s most respected and trusted institutions, private equity managers and merchant developers. As one of the lead business development and execution specialists for the team, Harf provides extensive knowledge to buyers and s

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