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29618765
29618766

315 N Main, Olivet, MI 49076

JY
MI 6501464032
AQRE Advisors
AQRE Advisors
Listed by AQRE Advisors
$1,641,818
210 days on market
Updated 29 days ago

Family Dollar/Dollar Tree Combo Store

Details
Property Type Retail
Sub Type Convenience Store, Commercial
Square Footage 10,500
Cap Rate 8.25%
NOI $135,450
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar Tree, Family Dollar
Lease Type NN
Lease Term 10
Lease Expiration 10/10/2034
Remaining Term 8
Class A
Year Built 2024
Buildings 1
Acreage 1.760
Parking Spaces 34 spaces
Parking Per SqFt 3.24
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 10/10/2024
Ground Lease No

Retail | 8.25% CAP

Marketing description

AQRE Advisors is pleased to present for sale the Family Dollar/Dollar Tree Combo Store, a ±10,500 SF retail property located at 315 N Main St, Olivet, MI 49076 (“Property”). Situated on 1.76 acres of land, the Property is fully leased to Family Dollar/Dollar Tree, offering investors a stable, income-generating asset backed by a nationally recognized tenant.

Olivet is a small village in Eaton County with a welcoming small-town character and easy access to the regional hub of Lansing. The community blends residential, institutional (with a college presence), and light commercial uses, making it a viable location for essential retail with stable regional support.

Investment highlights

  • New Construction: Brand-new 2024 build minimizes nearterm maintenance and capital expenditure risk.

  • New 10-Year Corporate Lease: Lease commenced October 2024, providing investors with a fresh full-term lease and long-term income stability.

  • Minimal Landlord Responsibilities: NN lease structure with landlord responsible only for roof, structure, and parking lot, ensuring low-maintenance, passive ownership.

  • New Construction = Reduced Capital Expenditures: Completed in 2024, minimizing near-term maintenance and repair costs for ownership.

  • Essential Retail Concept: Discount retail tenants offering everyday necessities—proven resilient across all economic cycles and key drivers of consistent consumer traffic.

  • Economy: Olivet’s economy is supported by education, healthcare, and local service-based employment, with a median household income of approximately $45,000. The nearby Lansing metropolitan area provides additional employment opportunities, strengthening the local workforce and supporting consistent consumer spending.

  • Developments: While Olivet is a small community, its proximity to Lansing and strong regional infrastructure promote long-term investment stability. The area benefits from ongoing infrastructure maintenance and regional growth, helping sustain a business friendly environment for new and existing commercial tenants.

  • Tourism: Olivet benefits from its scenic surroundings, nearby lakes, and recreational amenities that attract residents and visitors from across the region. Its small-town setting and collegiate presence contribute to steady local traffic and a consistent consumer base for neighborhood retail.

  • Education: Olivet is home to both Olivet Community Schools and Olivet College, a private liberal arts institution that anchors the community. The presence of higher education enhances local economic stability and provides a steady base of residents, students, and employees that support area retailers.

Listing Contacts

JY
MI 6501464032
AQRE Advisors
AQRE Advisors
Listed by AQRE Advisors

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$135,450.00
$11,287.50/mo

Valuation Metrics

0
DSCR
8.25%
Cap Rate
8.25%
ROI

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Additional Information

Name
John Yousif
License
6501464032
Brokerage
AQRE Advisors
Brokerage Phone
248-776-6001
Title
Associate Advisor
Brokerage Address
6755 Telegraph Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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