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438 W Lincoln Ave
Ionia, MI 48846
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- #1 LOCATION IN MICHIGAN BY VISITS (PLACER.AI)
- INVESTMENT GRADE TENANT | CORPORATE GUARANTY
- BUSIEST INTERSECTION IN IONIA | LIMITED COMPETITION
- 15-YEAR OPERATING HISTORY | RECENTLY RENEWED FOR 5 YEARS
EXECUTIVE SUMMARY
Mid-America Real Estate Corporation has been retained by the owner to sell the fee simple interest in 438 West Lincoln Avenue, a Dollar General store in Ionia, Michigan. Dollar General is operating on a net lease with term through 2030 and has been operating at the site since 2010.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,735 SF
Building Class
B
Year Built
1955
Price
$1,098,000
Price Per SF
$112.79
Cap Rate
8%
NOI
$87,802
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.75 AC
Zoning
B-1
Parking
30 Spaces (3.08 Spaces per 1,000 SF Leased)
Frontage
85’ on Lincoln Ave
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Number | 201-040-000-010-00 | Improvements Assessment | $212,900 |
| Land Assessment | $100,600 | Total Assessment | $313,500 |
PROPERTY TAXES
Parcel Number
201-040-000-010-00
Land Assessment
$100,600
Improvements Assessment
$212,900
Total Assessment
$313,500
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