Listed by Marcus & Millichap - Detroit, Marcus & Millichap - Milwaukee, Marcus & Millichap - Minneapolis
$5,337,000
Dollar General Portfolio - 5 Absolute Net Midwest Stores
Details
Property Type Retail
Sub Type Convenience Store, Storefront
Square Footage 45,500
Cap Rate 7.68%
NOI $409,913
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General
Lease Type Absolute NNN
Lease Term 15.1
Lease Expiration 12/31/2031
Remaining Term 5.4
Rent Bumps Yes
Lease Options Five – Five Year Options
Price per SqFt $117
Buildings 5
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 12/11/2016
Ground Lease No
Ownership Fee Simple
Abs Net DG Portfolio | 5+ Yrs | MI, MN, MO
Marketing description
This portfolio features five Dollar General stores across Michigan, Minnesota, and Missouri. All properties have absolute net leases with corporate guarantees from Dollar General, the nation's leading discount retailers with more than 20,000 locations. The original 15-year leases commenced between 2016-2017, with over five years remaining on the initial terms. Each property includes five 5-year renewal options with 10% rent increases at each option. The portfolio offers below-average market rents ranging from $8.63 to $9.23 per square foot. The tenant is responsible for all real estate taxes, insurance, roof, structure, parking lot, CAM, HVAC, and utilities.
Investment highlights
- Five Midwest Dollar Generals Offered as a Portfolio
- Built-to-Suit in 2016-2017 with Average of 5.5 Years Remaining on Original 15 Year Leases
- Absolute Net Lease with No Landlord Responsibilities
- Corporate Guarantees: 20,000 Locations and Growing
- 10% Rent Increases in Each Option
Listing Contacts
Listed by Marcus & Millichap - Detroit, Marcus & Millichap - Milwaukee, Marcus & Millichap - Minneapolis
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$409,913.00
$34,159.42/mo
Valuation Metrics
0
DSCR
7.68%
Cap Rate
7.68%
ROI
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Title
Name
License
Brokerage
Is there information that looks off?
