3607 68th St SE - Freestanding FOR SALE


Caledonia, MI 49316- Byron/Gaines/Caledonia/Cascade
$1,355,785 USD
248-702-0288
3607 68th St SE, Caledonia, MI for Sale
$1,355,785 USD
Freestanding - FOR SALE
1/4
null | 7% Cap Rate


HIGHLIGHTS

  • Absolute NNN Lease - Zero Landlord Responsibilities
  • Build to Suit for Dollar General in 2013 Per Tenant's Specifications
  • 9,301 Square Foot Building Located on 1.83 Acres of Land
  • 4+ Years Remaining on the Lease - Equipped with Five, 5 Year Options to Renew with Increases in Each Option Period
  • Very Strong Location and Demographics - Caledonia is a Growing Suburban Market 20 Minutes from Downtown Grand Rapids
  • Corporate Backed Guarantee by Dollar General - "BBB" By Standard & Poor's

OVERVIEW

The property is an Absolute NNN Lease, meaning zero landlord responsibilities, built to suit Dollar General in 2013 according to their specifications. The 9,301 square foot building sits on 1.83 acres and has over 4 years left on the lease, with five 5-year renewal options, each with rent increases. Located in Caledonia, a growing suburban market 20 minutes from downtown Grand Rapids, the area boasts strong retail, residential, and industrial growth. The lease is guaranteed by Dollar General, rated "BBB" by Standard & Poor's. The property is 1 mile from a large Amazon Fulfillment Center and Sort Center employing nearly 3,000 people. Situated on 68th Street, a major retail area, it is near residential developments and Gerald Ford International Airport. The surrounding area has 7.1 million square feet of industrial and distribution space within a 5-minute drive, including major facilities like Steelcase Manufacturing, Coca Cola Distribution Center, and several Amazon facilities.

FOR SALE DETAILS

PRICE

$1,355,785 USD

PRICE/SF

$146 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General - Absolute NNN - Grand Rapids

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.83 AC

LAND SF

79,715 SF

ZONING

Commercial

APN/PARCEL ID

41-22-02-400-035

ASK ABOUT THIS PROPERTY

Deno BistolaridesEncore Real Estate Investment ServicesMore Info
248-702-0288

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Deno BistolaridesEncore Real Estate Investment ServicesMore Info
248-702-0288

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