Listed by Matthews
$1,083,613
DOLLAR GENERAL (NNN) | JONES, MI
Details
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 9,026
Cap Rate 7.75%
NOI $83,980
Tenancy Single
Brand/Tenant Dollar General
Lease Type Absolute NNN
Lease Expiration 09/30/2033
Remaining Term 7.3
Rent Bumps Yes
Lease Options Four, 5-Year Options
Price per SqFt $120
Year Built 2018
Buildings 1
Acreage 1.550
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ownership Fee Simple
AVG. HHI: $122,149 | 7.75% CAP RATE
Investment highlights
- Strategic Regional Location: Situated at the signalized intersection of M-60 and M-40, approximately 25 miles south of Kalamazoo, Michigan, and 25 miles northeast of South Bend, Indiana.
- Attractive Yield: Offers a 7.75% return supported by a stabilized tenant with investment-grade credit with ±7.5 years remaining on the initial 15-year lease term.
- Proximity to Demand Drivers: Located within five miles of Swiss Valley Ski & Snowboard Area, M-40 Speedway, and Dr. Lawless International Dark Sky Park, key regional attractions supporting consistent consumer traffic.
- Limited Competitive Presence: Nearest national dollar-store competitor is more than six miles away, reinforcing Dollar General’s strong position within the local trade area.
- Investment-Grade Credit: Dollar General holds a BBB credit rating from S&P, indicating strong financial stability.
- National Scale & Growth: Operates approximately 21,000 locations nationwide with continued expansion initiatives.
- Essential Retailer Performance: Demonstrated operational resilience and strong performance throughout the COVID-19 pandemic.
- Established Public Company: Maintains a market capitalization of approximately $40.61 billion.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$83,980.00
$6,998.33/mo
Valuation Metrics
0
DSCR
7.75%
Cap Rate
7.75%
ROI
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