1420 Main st - Convenience Store FOR SALE


Niles, MI 49120
$1,731,135 USD
734-755-6359
1420 Main st, Niles, MI for Sale
$1,731,135 USD
Convenience Store - FOR SALE
1/5
null | 6.55% Cap Rate

1420 Main st
Niles, MI 49120


HIGHLIGHTS

  • 5% Rent Increases Every 5 Years during the Primary Term
  • Seeing 11,101 Cars Per Day
  • Five Mile Population 34,114
  • Concrete Parking Lot
  • 15 Year Absolute NNN Lease
  • 2023 BTS Plus Size | Plus Size Construction

OVERVIEW

Fortis Net Lease is pleased to present this 10,640 SF. Dollar General Plus store located in Niles, Michigan. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 year) options to renew! The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store completed construction & successfully opened for business in October 2023. This Dollar General is highly visible as it is strategically positioned on E Main Street which sees 11,101 cars per day. The 5 mile population from the site is 34,114 while the 1 mile average household income is $55,911 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top small box discount retailer. List price reflects a 6.55% cap rate based on NOI of $113,389.32.

FOR SALE DETAILS

PRICE

$1,731,135 USD

PRICE/SF

$163 USD /SF

CAP RATE

6.55%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.96 AC

LAND SF

128,938 SF

ZONING

C-1

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Bryan BenderFortis Net LeaseMore Info
734-755-6359

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

Bryan BenderFortis Net LeaseMore Info
734-755-6359

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