9104 US Highway 31 - Convenience Store FOR SALE


West Olive, MI 49460
$2,096,000 USD
678-808-2762
9104 US Highway 31, West Olive, MI for Sale
$2,096,000 USD
Convenience Store - FOR SALE
1/4
null | 6.55% Cap Rate

9104 US Highway 31
West Olive, MI 49460


OVERVIEW

AFFLUENT MARKET ON LAKE MICHIGAN COAST | 5 MILE AVG HHI: $122,841 • The subject property is located in West Olive about 28 miles west of downtown Grand Rapids, MI near the Lake Michigan coast. • The 5 mile average household income is $122,841 and the 5 mile population is 12,276 with 2.44% growth. • West Olive is situated within Ottawa County, one of Michigan’s fastest-growing counties and a key contributor to the West Michigan economy. • The property is located approximately 11 miles north of Holland and 11 miles south of Grand Haven, benefiting from access to two of Ottawa County’s largest population centers. • Ottawa County’s economy is supported by manufacturing, agriculture, health care, logistics, and professional services, providing a stable employment base throughout the trade area. SUPERIOR TRAFFIC COUNTS ON HIGHWAY 31 (26,493 VPD) • This Dollar General is located on Highway 31 that supports 26,493 VPD • Highway 31 is a primary transportation corridor connecting the Lake Michigan shoreline communities of Holland and Grand Haven. GRAND RAPIDS MSA | ONE OF THE FASTEST-GROWING CITIES IN THE MIDWEST • West Olive is located within the Grand Rapids MSA, the largest metropolitan area in West Michigan with a population of approximately 1.1 million residents. • The regional economy is driven by advanced manufacturing, health care, corporate headquarters, higher education, and distribution. • The MSA is home to Fortune 500 company SpartanNash, along with major employers such as Meijer, Corewell Health, Amway, MillerKnoll, Haworth, Bissell, and Wolverine Worldwide. • Grand Rapids is internationally recognized as a center for office furniture manufacturing and serves as headquarters or a major operations center for several of the industry’s largest companies. NEW 15 YEAR CORPORATE NNN LEASE WITH RENT INCREASES IN INITIAL TERM • The subject property has a new 15 year corporate guaranteed NNN lease with 5% rent increases every 5 years in the initial lease and options. • Tenant is 100% responsible for all expenses, including parking lot, taxes, insurance, roof, and structure. • This is a true NNN lease with no landlord responsibilities or expenses. • This Dollar General is under construction and rent is scheduled to commence in August 2026. INVESTMENT GRADE TENANT (S&P: BBB) WITH 21,000 LOCATIONS • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB. • The company currently operates more than 21,000 locations and plans to open approximately 450 new stores in 2026. • Dollar General has been in business for over 80 years and has a current net worth of approximately $18.16 billion.

FOR SALE DETAILS

PRICE

$2,096,000 USD

PRICE/SF

$197 USD /SF

CAP RATE

6.55%

% LEASED

-

TENANCY

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2026

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.57 AC

LAND SF

68,389 SF

ZONING

-

APN/PARCEL ID

70-11-01-300-019

ASK ABOUT THIS PROPERTY

Don McMinnMarcus & MillichapMore Info
678-808-2762

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Don McMinnMarcus & MillichapMore Info
678-808-2762

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