Dollar General | 2033 Reynolds Rd
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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.
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
Parcel Number | 08-011-012-10 | Improvements Assessment | $0 |
Land Assessment | $0 | Total Assessment | $636,700 |
PROPERTY TAXES
Parcel Number
08-011-012-10
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$636,700
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Dollar General | 2033 Reynolds Rd
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