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Dollar General | New 15-Yr Corp NNN New Const 8200 Grand Ledge hwy 10,640 SF Retail Building Sunfield, MI 48890 $1,387,000 ($130.36/SF) 6.40% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New 15-Year Lease | Scheduled Rental Increases | Corporate Guaranteed | Well-Known & Established Brand
- Direct Residential Consumer Base | Demographics in 5-Mile Trade Area
- Located Along Grand Ledge Hwy | Lansing MSA | Limited Competition | Brand New Construction
EXECUTIVE SUMMARY
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, newly-built, corporate guaranteed, Dollar General investment property located in Sunfield, MI (Lansing MSA). The tenant, Dolgencorp, LLC, recently signed a brand new 15-year lease with 5 (5-year) option periods to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases at the beginning of each option, growing NOI and hedging against inflation. The lease is guaranteed by the corporate entity (NYSE: DG | S&P: BBB), and is NNN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Dollar General is a nationally recognized and established discount store with over 19,000 stores in operation. The building, which is slated to open in July 2023, will feature a state-of-the-art design using the highest quality materials available.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
10,640 SF
Building Class
B
Year Built
2023
Price
$1,387,000
Price Per SF
$130.36
Cap Rate
6.40%
NOI
$88,768
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.78 AC
Zoning
C-2 - General Business
AMENITIES
- Freeway Visibility
- Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Dollar General
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Dollar General | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
PROPERTY TAXES
| Parcel Number | 011-003-400-003-03 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $684,700 |
PROPERTY TAXES
Parcel Number
011-003-400-003-03
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$684,700
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Dollar General | New 15-Yr Corp NNN New Const | 8200 Grand Ledge hwy
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