5404 Genesee RdFlint, MI 48506

For Sale
$1,036,380

High-yield, NNN-leased retail property.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fee-simple, single-tenant retail property occupied by a Dollar General store. Located at 5404 N Genesee Rd, Flint, MI 48506, this 9,026 square foot building sits on a 2.41-acre lot and boasts 34 parking spaces. Built in 2015, the property is a custom-built-to-suit structure designed to meet Dollar General's specifications. The property benefits from a highly visible location on N Genesee Road, experiencing over 12,000 vehicles per day. The current lease, an absolute NNN lease, commenced August 22, 2015, and has a remaining term of 5.8 years, with five, 5-year options including 10% rent bumps. The tenant, Dollar General, is a credit-rated, Fortune 500 company with a corporate guarantee, ensuring a stable income stream. The property's strong financial performance is reflected in its 8.15% cap rate and a net operating income (NOI) of $84,465. The high-density market, with over 60,000 residents within a 5-mile radius and over 245,000 residents within a 10-mile radius, further enhances the investment potential. The property is zoned commercial and features a single story building. This is an ideal investment for those seeking a passive income stream with a strong tenant and a proven track record. The asking price is $1,036,380, translating to $121.53 per square foot.

Highlights

  • High-density market with over 245,000 residents within a 10-mile radius and over 60,000 within 5 miles.
  • Investment-grade credit tenant: Dollar General, a Fortune 500 company with a BBB credit rating.
  • Excellent visibility and high traffic: Located on N Genesee Road with over 12,000 vehicles per day and significant frontage.
  • Long-term lease: Over 6 years remaining on the initial lease term, plus five 5-year options with 10% rent increases.
  • 2015 built-to-suit construction: High-quality building designed specifically for Dollar General.
  • Triple-net (NNN) lease: Passive income stream with tenant responsible for taxes, insurance, and maintenance.

Property Details for 5404 Genesee Rd

Property type
Other retail properties, Individual retail properties
Square Feet
9,026 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
104,980 SF

Location Insight

City
Flint
County
Genesee
State
Michigan
Latitude
43.0881023
Longitude
-83.6161955
5404 Genesee Rd, Flint, Michigan

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
5404 Genesee Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message