Cap Rate
6.6%
Tot. SF
9,235
705 South Main Street, Crystal, MI, 48818
Dollar General$1,408,242
Key Information
Year Built
2021
Term Remaining
±13.25 YRS
Type
Retail
Highlights
- 2021 build-to-suit construction for Dollar General
- 13.25-Years remaining on a 15-year absolute NNN lease (commencement of May 2021)
- Dollar General modified this lease 2.5-years into the base term to a new 15-year term and included rental increases (a strong sign of their commitment to the location)
- 5% rental increases every 5-years for the life of the lease
- Zero landlord management responsibilities
- Average household income of $77,462 (considered to be Dollar General’s “sweet-spot”)
- Crystal is located in Central Michigan roughly 50-miles East of Grand Rapids
- Dollar General has ±21,000 locations and plans to continue their expansion for the foreseeable future
- Dollar General boasts an investment-grade credit rating of BBB (S&P)
- Dollar General has been considered an essential retailer and has proven to be one of the most profitable companies through the COVID-19 pandemic
- Dollar General has a Market Cap of over 25 Billion
Photos
Location
Agents
J
Josh BishopLicense # 688810 (TX)
Broker of Record
Matthew M. Fitzgerald
License # 6505432273 (MI)Matthews Real Estate Investment Services, Inc1600 West End, Ste. 1500 Nashville, TN 37203