MLS#292339
STATUSActive
PROPERTY TYPECommercial - Retail
Property Description
Terrific investment opportunity for a 10,760 SF Dollar General Plus store located in Big Rapids, MI the home of Ferris State University. Built new in September 2021, this property offers an investor an Absolute NNN Lease with zero landlord responsibilities, and a corporate guaranteed lease by Dollar General Corporation which holds an S&P Global Rating of BBB. The store is highly visible with strong traffic patterns and good demographics. The original lease was for 15 years starting on September 15, 2021 with 10% bumps every 5 years. There are also 4 (5 year) options with 10% bumps at each option. The current NOI is $91,531 with an increase to $100,684.10 in September 2026. This investment is priced at $1,425,000 representing a 6.42% Cap Rate or $132.43 psf. This is an ideal investment for a 1031 Buyer or someone looking for passive income.
Property Features
Property Type: Commercial - Retail
Cooling: Central Air, Other
Heating: Forced Air
Lot Size: 1.75 Acres
Roof Type: Flat, Steel
Stories: 1.0
Taxes: $14,734
Feature Descriptions
Appliances: None
Business Type: Retail
Days on Site: 129
Exterior: Brick
Lot: City Lot, Corner Lot
Lot Dimensions: 1.75+/- Acres
Parcel #: 5401-034-018-610
Parking: Parking Lot, Concrete
Road Frontage: City Street, State Road
Road Surface: Paved
Sewer: Public Sewer
SQFT Total: 10760
Units: 1
Utilities: Water Available, Sewer Available, Electricity Available
Water: Public
Listed By / Shown By
Listed By
Agency Name: Berkshire Hathaway HomeServices
Shown By
Agency Title: Key Realty
Agency Phone: 877-539-7589
18414 Northland Drive | MLS# 292339
This commercial property located at 18414 Northland Drive, Big Rapids, MI 49307 is currently listed for sale with an asking price of $1,425,000. Search Big Rapids real estate on www.ikeyrealty.com today.