6969 Saddler Rd, Chase, MI 49623
10,640 SF | Retail Building | Chase, MI 49623 | $1,867,660 ($176/SF) | 6.75% Cap Rate
For Sale
Active
Asking Price $1,867,660
- Property Type
-
Retail
- Square Feet
- 10,640 SF
- Price / Square Foot
- $176
Listing Contacts
- Property Info
Property Overview
Fortis Net Lease is pleased to present this brand new 10,640 SF. Dollar General Plus store located in Chase, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. It is the only dollar store serving the community! 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 under construction with rent & store opening on track for June 2024.
This Dollar General is highly visible as it is strategically positioned on the corner of S Saddler Road and Highway 10 which sees 5,201 cars per day. It is on a main thoroughfare connecting cities. The 10 mile population from the site is 10,703 while the 3 mile average household income is $63,758 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 $126,067.08.
This Dollar General is highly visible as it is strategically positioned on the corner of S Saddler Road and Highway 10 which sees 5,201 cars per day. It is on a main thoroughfare connecting cities. The 10 mile population from the site is 10,703 while the 3 mile average household income is $63,758 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 $126,067.08.
Property Details
- Class
- C
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Grocery/Convenience Store
- Lot Size (sq. ft)
- 43,560 SF
Highlights
- 5% Rent Increases Every 5 Years during the Primary Term!
- Corner Location | 5,201 VPD
- 2024 BTS Plus Size | Plus Size Construction
- Three Mile Household Income $63,758
- The Only Dollar Store Serving the Community!
- Ten Mile Population 10,703 and Growing
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