9495 Greenville RdLakeview, MI 48850

For Sale
$1,508,035

Michigan Retail Property, Strong ROI

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fee-simple ownership of a 10,640-square-foot Dollar General store in Lakeview, Michigan. Built in 2022, this single-story building sits on a 1.65-acre lot in a high-traffic location at the signalized intersection of N Greenville Rd and State Route 46, experiencing 10,718 cars daily. The property boasts a 15.1-year absolute NNN lease (12.4 years remaining), commencing April 15, 2022, and expiring April 30, 2037. The lease includes five 5-year renewal options with a 5% rent increase every five years. The tenant, Dollar General Corporation, holds an investment-grade credit rating of "BBB," providing significant financial security. The current annual net operating income (NOI) is $101,792, yielding a 6.75% cap rate at the asking price of $1,508,035 ($141.73 per square foot). The property's strategic location near local schools, a McDonald's, gas station, church, and bank, combined with a strong three-mile average household income of $64,986 and a ten-mile population of 17,883, ensures consistent profitability. This is an ideal opportunity for a 1031 exchange buyer or passive investor seeking a low-maintenance, high-return investment with a nationally recognized, creditworthy tenant. The property is zoned commercial and offers zero landlord responsibilities.

Highlights

  • 15-Year Absolute NNN Lease with zero landlord responsibilities.
  • Relocation plus store, built in 2022.
  • 5% rental rate increases every five years.
  • Hard corner location with excellent visibility.
  • Five, five-year options with 5% increases at each option.
  • Trade area demographics: $64,986 average household income (3-mile radius), 17,883 population (10-mile radius), 10,718 cars per day (at N Greenfield Rd and State Route 46).

Property Details for 9495 Greenville Rd

Property type
Other retail properties, Individual retail properties
Square Feet
10,640 SF
Year Built
2022
Buildings
1
Stories
1
Lot Size (sq. ft)
71,874 SF
Units
1

Location Insight

City
Lakeview
County
Montcalm
State
Michigan
Latitude
43.4284213
Longitude
-85.2637051
9495 Greenville Rd, Lakeview, Michigan

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9495 Greenville Rd
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