596 W Main St - Freestanding FOR SALE


Marcellus, MI 49067
$800,000 USD
586-200-0041
596 W Main St, Marcellus, MI for Sale
$800,000 USD
Freestanding - FOR SALE
1/5
null | 9.22% Cap Rate

596 W Main St
Marcellus, MI 49067


HIGHLIGHTS

  • All options exercised, placing the next renewal negotiation with the incoming owner
  • 9,014 SF store situated on an oversized 1.53-acre lot
  • Positioned on a hard corner offering excellent visibility and traffic flow
  • 21,000 residents within a 10-mile radius
  • Built in 2005 and remodeled in 2018

OVERVIEW

AMC Real Estate Investment Services is pleased to present a single tenant Dollar General in Marcellus, Michigan, leased to Dollar General (NYSE: DG), an investment grade (S&P: BBB) discount retailer. The 9,014 SF store was built in 2005, remodeled in 2018, and sits on an oversized 1.53-acre hard corner. Dollar General has operated at this location for 20 years, giving the offering both durable credit and a proven store history. The NN lease runs through September 30, 2030, with roughly four years remaining. The tenant covers taxes, insurance, snow removal, and a fixed CAM allowance, while ownership maintains structure, roof, and HVAC replacement. Rent has stepped up 10% at every five-year interval and the tenant has exercised all three options at the full contractual increase, producing $73,788 in current NOI. The hard corner delivers strong visibility and easy access along W Main Street at 4,737 vehicles per day, with parking well in excess of what the store requires and surplus land for future flexibility. It is the only Dollar General in Marcellus and ranks in the 86th percentile statewide. Portage sits 23 miles north in the Kalamazoo MSA, and a local economy spanning agriculture, manufacturing, healthcare, and education supports steady necessity driven demand.

FOR SALE DETAILS

PRICE

$800,000 USD

PRICE/SF

$89 USD /SF

CAP RATE

9.22%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront Retail/Office, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.53 AC

LAND SF

66,647 SF

ZONING

C

APN/PARCEL ID

14-051-616-004-20

ASK ABOUT THIS PROPERTY

Corbin MontpasAMC Real Estate Investment ServicesMore Info
586-200-0041

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Corbin MontpasAMC Real Estate Investment ServicesMore Info
586-200-0041

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