1393 M-139 Hwy, Benton Harbor, MI 49022
10,640 SF | Retail Building | Benton Harbor, MI 49022 | $1,885,774 ($177/SF) | 6.65% Cap Rate
For Sale
Active
5 pictures
Asking Price $1,885,774
- Property Type
-
Retail
- Square Feet
- 10,640 SF
- Price / Square Foot
- $177
Listing Contacts
Bryan Bender
- Property Info
Property Overview
Fortis Net Lease is pleased to present this brand new 10,640 SF RELOCATION Dollar General Plus store located in Benton Harbor, Michigan - a popular tourist destination! The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent 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 is currently under construction with store opening & rent on track to start in October 2024.
This Dollar General Market is highly visible as it is strategically positioned off M-139 seeing 11,831 cars per day! The 5 mile population from the site is 47,438 while the 3 mile average household income is $60,934 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 6.65% cap rate based on NOI of $125,404.
This Dollar General Market is highly visible as it is strategically positioned off M-139 seeing 11,831 cars per day! The 5 mile population from the site is 47,438 while the 3 mile average household income is $60,934 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 6.65% cap rate based on NOI of $125,404.
Property Details
- Class
- C
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 59,242 SF
Highlights
- RELOCATION STORE | PROVEN SUCCESS IN THE MARKET!
- 5% RENT INCREASES EVERY 5 YEARS!!
- Easy on/off access to I-94 Exit | On Main Thoroughfare
- 2024 BTS Construction | Plus Size Store
- 11,831 Cars Per Day!
- Five Mile Population 47,438
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