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596 W Main St 9,014 SF Retail Building Marcellus, MI 49067 $800,000 ($88.75/SF) 9.22% Cap Rate
Investment Highlights
- All options exercised, placing the next renewal negotiation with the incoming owner
- Positioned on a hard corner offering excellent visibility and traffic flow
- Built in 2005 and remodeled in 2018
- 9,014 SF store situated on an oversized 1.53-acre lot
- 21,000 residents within a 10-mile radius
Executive Summary
AMC Real Estate Investment Services is pleased to present a single tenant Dollar General in Marcellus, Michigan, leased to Dollar General (NYSE: DG), an investment grade (S&P: BBB) discount retailer. The 9,014 SF store was built in 2005, remodeled in 2018, and sits on an oversized 1.53-acre hard corner. Dollar General has operated at this location for 20 years, giving the offering both durable credit and a proven store history.
The NN lease runs through September 30, 2030, with roughly four years remaining. The tenant covers taxes, insurance, snow removal, and a fixed CAM allowance, while ownership maintains structure, roof, and HVAC replacement. Rent has stepped up 10% at every five-year interval and the tenant has exercised all three options at the full contractual increase, producing $73,788 in current NOI.
The hard corner delivers strong visibility and easy access along W Main Street at 4,737 vehicles per day, with parking well in excess of what the store requires and surplus land for future flexibility. It is the only Dollar General in Marcellus and ranks in the 86th percentile statewide. Portage sits 23 miles north in the Kalamazoo MSA, and a local economy spanning agriculture, manufacturing, healthcare, and education supports steady necessity driven demand.
The NN lease runs through September 30, 2030, with roughly four years remaining. The tenant covers taxes, insurance, snow removal, and a fixed CAM allowance, while ownership maintains structure, roof, and HVAC replacement. Rent has stepped up 10% at every five-year interval and the tenant has exercised all three options at the full contractual increase, producing $73,788 in current NOI.
The hard corner delivers strong visibility and easy access along W Main Street at 4,737 vehicles per day, with parking well in excess of what the store requires and surplus land for future flexibility. It is the only Dollar General in Marcellus and ranks in the 86th percentile statewide. Portage sits 23 miles north in the Kalamazoo MSA, and a local economy spanning agriculture, manufacturing, healthcare, and education supports steady necessity driven demand.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
9,014 SF
Building Class
B
Year Built
2005
Price
$800,000
Price Per SF
$88.75
Cap Rate
9.22%
NOI
$73,788
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.53 AC
Zoning
C - Commercial
Frontage
109’ on Main
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Jan 0000
Dollar General began in 1939 as J.L. Turner and Son Wholesale Company, a dry-goods business started by J.L. Turner and Cal Turner Sr., and the first Dollar General store opened in the mid-1950s. The company operates a discount retail model through Dollar General, DG Market, DGX, and pOpshelf formats, serving customers with food, health and wellness products, cleaning and laundry supplies, self-care and beauty items, seasonal décor, private brands, and national labels. Dollar General supports online shopping and positions itself around affordable everyday goods and community-focused services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | 99,999 SF | - | Jan 0000 |
Property Taxes
| Parcel Number | 14-051-616-004-20 | Improvements Assessment | $168,800 |
| Land Assessment | $14,500 | Total Assessment | $183,300 |
Property Taxes
Parcel Number
14-051-616-004-20
Land Assessment
$14,500
Improvements Assessment
$168,800
Total Assessment
$183,300
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