4571 Stanley Rd, Mount Morris, MI 48458
12,480 SF | Retail Building | Mount Morris, MI 48458 | $2,272,241 ($182/SF) | 6.65% Cap Rate
For Sale
Active
Asking Price $2,272,241
- Property Type
-
Retail
- Square Feet
- 12,480 SF
- Price / Square Foot
- $182
Listing Contacts
Jimmy Goodman
Randy Blankstein
Property Overview
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Dollar General Market property positioned in Genesee, Michigan. The rent commencement date for the new construction property was August 29, 2024. The asset features a new 15-year Dollar General lease with 5% rental escalations every 5 years throughout the primary term and options. There are ?ve 5-year options. The subject lease is also triple net and features no landlord responsibilities. Dollar General is an investment grade tenant, rated BBB by Standard & Poor’s.
The 12,480 square-foot building benefits from its position along North Genesee Road which experiences over 14,300 vehicles per day. The asset is located less than 10 miles north of Flint and 75 miles from downtown Detroit. The Dollar General property will also benefit from the large population of 47,163 people that live within five-mile radius. Additionally, the average household income within one mile is $77,519. The property will also benefit from limited competition in the area.
Dollar General Corporation is an American chain of variety stores headquartered in Goodlettsville, Tennessee, which has been in expansion mode for several years. Dollar General offers products that are frequently used and replenished—such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, and seasonal items—at low, everyday prices in convenient neighborhood locations. A leading discount retailer, Dollar General operates more than 18,130 stores in 46 states and has plans for significant future growth.
The 12,480 square-foot building benefits from its position along North Genesee Road which experiences over 14,300 vehicles per day. The asset is located less than 10 miles north of Flint and 75 miles from downtown Detroit. The Dollar General property will also benefit from the large population of 47,163 people that live within five-mile radius. Additionally, the average household income within one mile is $77,519. The property will also benefit from limited competition in the area.
Dollar General Corporation is an American chain of variety stores headquartered in Goodlettsville, Tennessee, which has been in expansion mode for several years. Dollar General offers products that are frequently used and replenished—such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, and seasonal items—at low, everyday prices in convenient neighborhood locations. A leading discount retailer, Dollar General operates more than 18,130 stores in 46 states and has plans for significant future growth.
Property Details
- Year Built
- 2024
- Stories
- 1
- Lot Size (sq. ft)
- 151,153 SF
Highlights
- Over 47,100 people live within a five-mile radius
- 5% rental escalations every 5 years
- Investment grade tenant – Standard & Poor’s BBB
- Brand-new construction Dollar General Market property featuring the larger and coveted 12,480 SF prototype
- 15-year lease commencing in August 2024
- NNN – No landlord responsibilities
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