11802 Chippewa Hwy - Freestanding FOR SALE


Bear Lake, MI 49614
$606,487 USD
248-801-0049
11802 Chippewa Hwy, Bear Lake, MI for Sale
$606,487 USD
Freestanding - FOR SALE
1/2
null | 9% Cap Rate

11802 Chippewa Hwy
Bear Lake, MI 49614


HIGHLIGHTS

  • Freestanding 8,125 SF building on a 1-acre lot with 34 surface parking spaces
  • NN+ Corporate Lease with 4–5 years remaining and minimal landlord responsibilities
  • Attractive Cap Rate with stable NOI and strong rent performance
  • Strategic Rural Michigan Location with Zero Vacancy
  • Located on US-31 in Manistee County (5,588+ VPD)
  • Underserved rural trade area with no local competition and strong traffic

OVERVIEW

This offering features a 100% occupied, single-tenant Dollar General store located in Bear Lake, Michigan, as part of a 7-property portfolio of NN+ leased assets. The 8,125 SF freestanding retail building sits on a 1-acre parcel along US-31 (Chippewa Highway)—a key corridor through Northwest Michigan with over 5,000 vehicles per day. The property is backed by a corporate-guaranteed lease with approximately 4–5 years of term remaining, offering investors stable cash flow with minimal landlord responsibilities. The annual NOI reflects a strong return profile in a recession-resistant, essential retail category. Strategically positioned in a growing rural trade area with 0.0% vacancy, the site benefits from limited local competition and consistent traffic from surrounding communities. With a robust parking ratio and well-maintained construction, this Dollar General meets both national tenant standards and long-term investment criteria. This Dollar General is strategically located in Bear Lake, a rural village in Manistee County, within the Northwest Michigan submarket cluster. Positioned along Chippewa Highway (US-31), a primary north-south corridor through the region, the property benefits from strong visibility and consistent local traffic, with over 5,588 vehicles per day at nearby intersections. The immediate area is predominantly residential and lightly commercial, supporting essential retail needs for surrounding small communities. Despite the rural setting, the property serves as a critical retail anchor, drawing daily traffic from a wide geographic radius due to limited competition. The site is located within the Traverse City–Cadillac DMA, offering investors a secure foothold in a stable, low vacancy market.

FOR SALE DETAILS

PRICE

$606,487 USD

PRICE/SF

$75 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

34

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

C1

APN/PARCEL ID

02-008-200-07

ASK ABOUT THIS PROPERTY

Alexa VeneziaP.A. Commercial, LLCMore Info
248-801-0049

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Alexa VeneziaP.A. Commercial, LLCMore Info
248-801-0049

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.