DOLLAR GENERAL | ITHACA, MICHIGAN



INVESTMENT SUMMARY

Purchase Price
$1,073,958

Location
1202 E. Center St

Cap Rate
7.15%

Annual Rent
$76,788.00

Building Size
9,014 SF

Land Area
1.57 Acres

Ownership
Fee Simple

Lease Type
NN+

Term Remainning
7.50 Years

LEASE EXPIRATION
05/31/2030

Renewal Options

RENT INCREASES
10% at Options

Parking
33 Spaces

Year Built
2010

APN
52-050-023-30

Traffic Counts
8,260 VPD
INVESTMENT HIGHLIGHTS
DOLLAR GENERAL CORPORATE LEASE:
- 7.50 Years Remaining
- 2010 Build-to-Suit Dollar General
- Five (5) - Five (5) Year Option Periods with 10% Rental Increases
NN+ LEASE:
- Landlord Responsibilities Limited to Roof, Structure & Parking Lot
- Tenant is Responsible for All Maintenance/Repairs/Replacement of the HVAC Units
- Tenant Reimburses Parking Lot & Common Area Maintenance Expenses in Full (Except Capital Expenditures)
RECENT LEASE EXTENSION:
- Dollar General Recently Extended the Lease for an Additional 5 Years Through May 2030
TRADE AREA DEMOGRAPHICS:
- 1-Mile: 2,283 Residents; $60,368 Average Household Income
- 3-Mile: 3,647 Residents; $61,767 Average Household Income
- 5-Mile: 5,107 Residents; $65,902 Average Household Income
- 7-Mile: 10,797 Residents; $66,345 Average Household Income
PROXIMITY FROM ITHACA, MICHIGAN:
- Lansing, MI | 45 Miles
- Grand Rapids, MI | 74 Miles
- Ann Arbor, MI | 105 Miles
- Detroit, MI | 130 Miles
- Toledo, OH | 158 Miles
- Fort Wayne, IN | 176 Miles
- Chicago, IL | 250 Miles
TENANT:
- Dollar General Corporation (NYSE: "DG")
- Strong Investment Grade Credit Rating of "BBB" by Standard & Poor's
- 19,147 Stores in 47 States as of March 3, 2023
- Ranked #106 on the Fortune 500 List