DOLLAR GENERAL | ITHACA, MICHIGAN

Purchase Price
$1,137,600
Location
1202 E. Center St
Cap Rate
6.75%
Annual Rent
$76,788.00
Building Size
9,100 SF
Land Area
1.17 Acres
Ownership
Fee Simple
Lease Type
NN+
Term Remainning
7.50 Years
LEASE EXPIRATION
05/31/2030
Renewal Options
Five (5) - Five (5) Year
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:

  • Strong Corporate Guaranty (NYSE: "DG") - Dollar General Corporation is Rated "BBB" by Standard & Poor's
  • 18,818 Stores in 47 States as of October 28, 2022

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