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Dollar General - Bear Lake 11802 Chippewa Hwy 8,125 SF Retail Building Bear Lake, MI 49614 $606,487 ($74.64/SF) 9% Cap Rate
INVESTMENT HIGHLIGHTS
- Freestanding 8,125 SF building on a 1-acre lot with 34 surface parking spaces
- Located on US-31 in Manistee County (5,588+ VPD)
- Part of a 7-building Dollar General Portfolio
- NNN Corporate Lease with 4–5 years remaining and minimal landlord responsibilities
- Underserved rural trade area with no local competition and strong traffic.
- Strategic Rural Michigan Location with Zero Vacancy
EXECUTIVE SUMMARY
This offering features a 100% occupied, single-tenant Dollar General store located in Bear Lake, Michigan, as part of a 7-property portfolio of NNN leased assets. The 8,125 SF freestanding retail building sits on a 1-acre parcel along US-31 (Chippewa Highway)—a key corridor through Northwest Michigan with over 5,000 vehicles per day. The property is backed by a corporate-guaranteed lease with approximately 4–5 years of term remaining, offering investors stable cash flow with minimal landlord responsibilities. The annual NOI reflects a strong return profile in a recession-resistant, essential retail category. Strategically positioned in a growing rural trade area with 0.0% vacancy, the site benefits from limited local competition and consistent traffic from surrounding communities. With a robust parking ratio and well-maintained construction, this Dollar General meets both national tenant standards and long-term investment criteria.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,125 SF
Building Class
C
Year Built
2005
Price
$606,487
Price Per SF
$74.64
Cap Rate
9%
NOI
$54,584
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.00 AC
Zoning
C1 - Commercial
Parking
34 Spaces (4.18 Spaces per 1,000 SF Leased)
Frontage
78’ on Chippewa Hwy
PROPERTY TAXES
| Parcel Number | 02-008-200-07 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $238,500 |
PROPERTY TAXES
Parcel Number
02-008-200-07
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$238,500
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Dollar General - Bear Lake | 11802 Chippewa Hwy
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