This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Dollar General 2033 Reynolds Rd

10,640 SF Retail Building Interlochen, MI 49643 $1,614,075 ($152/SF) 6.70% Cap Rate

Investment Highlights

  • Corner Site Seeing 10,287 Cars Per Day | RENT INCREASES!
  • Three Mile Household Income $76,120
  • Corporate Guaranty | 20,000+ Stores
  • 2023 BTS Plus Size | Plus Size Construction
  • Ten Mile Population 34,544
  • 15 Year Absolute NNN Lease

Executive Summary

Fortis Net Lease is pleased to present this new 10,640 SF. Dollar General Plus store located in Interlochen, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years including at each of the 5 (5 year) options to renew! The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store completed construction & successfully opened for business in September 2023.September 2023.
This Dollar General is highly visible as it is strategically positioned on the hard corner of N Reynolds Road & Honor Highway which sees 10,287 cars per day. The 10 mile population from the site is 34,544 while the 3 mile average household income is $76,120 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top small box discount retailer. List price reflects a 6.75% cap rate based on NOI of $108,143.04.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Building Size
10,640 SF
Building Class
C
Year Built
2023
Price
$1,614,075
Price Per SF
$152
Cap Rate
6.70%
NOI
$108,143
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Land Acres
3.33 AC
Zoning
C-1 - Commercial
Frontage
256 FT on North Reynolds Road

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
08-011-012-10
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$636,700
  • Listing ID: 32228926

  • Date on Market: 6/23/2024

  • Last Updated:

  • Address: 2033 Reynolds Rd, Interlochen, MI 49643

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}