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28356763
28356762

6121 E Cass City Rd, Cass City, MI 48726 For Sale

CT
IL 475165868
Northmarq - Chicago
Listed by Northmarq - Chicago
$1,381,580
97 days on market
Updated 76 days ago

Family Dollar

Details
Property Type Retail
Sub Type Storefront
Square Footage 10,500
Net Rentable (SqFt) 10,500
Units 1
Cap Rate 9.5%
NOI $131,250
Occupancy 100%
Tenancy Single
Brand/Tenant Family Dollar
Lease Type NN
Lease Term 10.2
Lease Expiration 02/28/2034
Remaining Term 7.6
Lease Options 5 x 5-year options
Price per SqFt $132
Year Built 2023
Buildings 1
Stories 1
Acreage 1.520
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 12/07/2023
Occupancy Date 12/07/2023
Ownership Fee Simple

Retail | 9.50% CAP | 10,500 SqFt

Marketing description

Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in the Family Dollar located in Cass City, Michigan (the “Property”). This is a relocation from across the street into a newly constructed combo store that leverages the strengths of both brands to serve small towns across the country. The Property consists of a 10,500-square-foot freestanding retail building, on a 1.52-acre parcel of land. Family Dollar is operating under a 10-year net lease, offering a passive investment asset with limited landlord responsibilities.

The Property is located in Cass City, Michigan, a city in Tuscola County in Michigan’s “Thumb” region. The Property is situated along the primary retail corridor of Cass City: Cass City Road. This strategic location gives the real estate excellent access and visibility. Cass City Road sees over 3,261 VPD, and is a major thruway for Cass City and its surrounding areas. The Property’s visibility from this road significantly helps to drive consumers to the premises, and gives the real estate underlying value. On top of this, the surrounding areas of the Property report exceptional dollar store demographics, with more than 11,490 people and an average annual household income of $81,973 within a 10-mile radius. These demographics are ideal for a Family Dollar store, and have allowed the store to grow a large, loyal customer base. Furthermore, the Property is located within the primary retail corridor of Cass City, which is occupied by many national brands that significantly help to drive commerce into the trade area.

Investment highlights

Relocation Store Concept | 2023 Construction

10-Year Term Net Lease | Limited LL Responsibilities

Advantageous Access Point | Cass City Road - Primary East/West Thruway

Located Near the Hills & Dales Hospital | 25-Bed Critical Access Facility

Listing Contacts

CT
IL 475165868
Northmarq - Chicago
Listed by Northmarq - Chicago

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$131,250.00
$10,937.50/mo

Valuation Metrics

0
DSCR
9.5%
Cap Rate
9.5%
ROI

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Additional Information

Name
BJ Feller
License
MI #6506047670
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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