Dollar General - Absolute NNN - Grand Rapids 3607 68th St SE 9,301 SF Retail Building Caledonia, MI 49316 $1,355,785 ($145.77/SF) 7% Cap Rate

The property is an Absolute NNN Lease, meaning zero landlord responsibilities, built to suit Dollar General in 2013 according to their specifications. The 9,301 square foot building sits on 1.83 acres and has over 4 years left on the lease, with five 5-year renewal options, each with rent increases. Located in Caledonia, a growing suburban market 20 minutes from downtown Grand Rapids, the area boasts strong retail, residential, and industrial growth. The lease is guaranteed by Dollar General, rated "BBB" by Standard & Poor's. The property is 1 mile from a large Amazon Fulfillment Center and Sort Center employing nearly 3,000 people. Situated on 68th Street, a major retail area, it is near residential developments and Gerald Ford International Airport. The surrounding area has 7.1 million square feet of industrial and distribution space within a 5-minute drive, including major facilities like Steelcase Manufacturing, Coca Cola Distribution Center, and several Amazon facilities.