Listed by Matthews
$770,411.37
Family Dollar
Details
Property Type Retail
Sub Type Dollar store
Square Footage 8,320
Cap Rate 9.50%
NOI $73,189
Tenancy Single
Lease Type NN
Lease Expiration 03/31/2029
Year Built 2017
Acreage 0.870
Investment Type Net Lease
Lease Commencement 06/21/2017
Ownership Fee-Simple
Strategic Location & Recreational Draw
Investment highlights
- Located directly off Interstate 75, the primary north-south corridor connecting Northern Michigan to major population centers, providing excellent visibility and convenient access for both local residents and travelers.
- Positioned in the heart of Northern Michigan's outdoor recreation region, with close proximity to numerous lakes, trails, campgrounds, and state forest land that attract year-round visitors and seasonal tourism.
- Benefits from steady traffic generated by hunting, fishing, boating, snowmobiling, and ORV activities, making the property a convenient retail stop for both residents and tourists throughout the year.
- Situated along Mill Street with immediate access to I-75, allowing the property to serve a broad trade area extending beyond Vanderbilt and surrounding Otsego County communities.
- Functions as a key retail destination within a limited-service market, providing essential goods to local residents, seasonal visitors, and travelers passing through Northern Michigan.
- Vanderbilt's affordable housing, growing recreational appeal, and strong community identity continue to support demand for necessity-based retail services.
- Family Dollar is paying approximately $8.80 PSF in rent, providing the tenant with a highly affordable occupancy cost that supports long term store profitability.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$73,189.08
$6,099.09/mo
Valuation Metrics
0
DSCR
9.5%
Cap Rate
9.5%
ROI
Map
Zoning
B-1 CommercialRetail CommercialLocal Business
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View all 14 uses
View all 14 uses Last updated May 11, 2026 For deeper zoning details, reports are available at Zoneomics
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