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Dollar General

Parchment, Michigan

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NNN Pro Group is pleased to present the exclusive listing for a Dollar General located at 530 South Riverview Drive, Parchment, Michigan. The site consists of roughly 9,578 rentable square feet of building space on estimated 1.17-acre parcel of land. This Dollar General is subject to a 15-year absolute triple-net (NNN) lease, which commenced June 14th, 2014. The current annual rent is $104,400 and is scheduled to increase in each of the 5, 5-year renewal options.

About the Investment:

– Long-Term, 15-Year Absolute Triple Net (NNN) Lease
– Approximately 6.1 Years Remaining
– Varied Rental Increases Occurring In Each Option
– Strong Corporate Guarantee
– Five (5), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 40 Years

Key Details

Price:
$1,347,097
Cap Rate:
7.75%
Annual Rent:
$104,400
Address:
530 South Riverview Drive, Parchment, Michigan 49004
Property Type:
Dollar Store
Lease Type:
Triple Net (NNN)

Original Lease Term:
15 Years
Lease Commencement:
June 14, 2014
Lease Expiration:
June 30, 2029
Lease Term Remaining:
6.1 Years
Rental Increases:
In Each Option
Lot Size:
1.17 Acres
Building Size:
9,578 SF
Year Built:
2014
Tenant:
Dollar General

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Alexandre Marietto

License: 10401294047

Kyle Karsian

License: 10401321452

Broker of record

Brian Brockman

Bang Realty-Michigan, Inc

License: 6502428679


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