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Family Dollar 120 E Broadway Ave 9,082 SF Retail Building Muskegon, MI 49444 $1,188,436 ($130.86/SF) 8.50% Cap Rate
Investment Highlights
- Corporate Tenant – The lease is signed by Family Dollar Stores of Michigan, Inc. Family Dollar operates over 7,100 locations across the country
- Passive Value-Add Investment – This asset represents an ideal play for an investor seeking high-yield, low-risk corporate income in the short term
- ssential Retail – Family Dollar stores often serve as community “essential retail anchors” in secondary and tertiary markets
- Absolute NNN – This is a rare absolute NNN lease for Family Dollar with zero landlord responsibilities, offering 100% passive income
- Attractive Increase Schedule – 10% rental increases in each of the Six, 5-year options, which is beneficial to an owner
- Recession Resistant Tenant – Discount retail historically performs well during economic uncertainty, benefitting from resilient demand as consumers
Executive Summary
Broker of Record
Matt Fitzgerald
License # 6502432668, 6505432273 (MI)
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Matt Fitzgerald
License # 6502432668, 6505432273 (MI)
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,082 SF
Building Class
C
Year Built
2015
Price
$1,188,436
Price Per SF
$130.86
Cap Rate
8.50%
NOI
$101,017
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.17 AC
Opportunity Zone
Yes
Zoning
SUD
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Family Dollar began in 1959 as a discount variety store chain and grew from a neighborhood retail concept into a nationwide business serving everyday shopping needs. The company focuses on affordable family essentials and carries food and beverages, paper products, health and beauty supplies, pet food, home products, apparel and accessories, seasonal goods, and electronics. Family Dollar supports convenient value shopping through national brands, private-label items, and digital savings tools across the United States.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 26-185-198-0002-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $264,400 |
Property Taxes
Parcel Number
26-185-198-0002-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$264,400
Contacts
-
Nathan Fitzgibbons -
Cade Norland -
Keegan Mulcahy -
Matthews Real Estate Investment Services
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Family Dollar | 120 E Broadway Ave
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