NNN Dollar General Investment
For Sale
Contact for pricing
10600 E Rd, Burt, MI 48417
NNN Dollar General in Burt, MI with long-term lease.
Property Size9,026 SF
Price / SF$142.42
Days on Market149
Property Features for 10600 E Rd
General Information
Standard status
Active
Size
9,026 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$89,982
Building Details
Tenancy
Single
Listing Agency:
SVN | Silveri Company
(616) 949-6168
Listed By:
Peter Colvin · License #MI 6501197270
Source:
Crexi
Added: Mar 26
Changed: Aug 8
Last Checked: Aug 20 at 9:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Silveri Company
Investment Insights
Based on property information with market context.
This NNN Dollar General investment property is located in Burt, Michigan, south of Saginaw, and near Frankenmuth, the Birch Run Premium Outlets, and the Birch Run Speedway. Constructed and opened in 2017, the property has a 15-year base term that runs through September 30, 2032. The lease structure is absolute triple net, with Dollar General responsible for all maintenance, repairs, and replacements. There are five renewal options of 5 years each, with a 10% rent increase for each option. The store is located in a busy area with over 55,000 residents within a 10-mile radius. The property size is 9,026 square feet. Phase 1 Environmental Report and ALTA Survey are available.
Key Highlights
- Absolute NNN Lease: Dollar General handles all maintenance.
- Long‑Term Lease: Enjoy a 15‑year lease, active until 9/30/2032.
- Renewal Options: Benefit from five 5‑year renewal options, each with a 10% rent increase.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$116,733
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,334,660
$2.3M
Cap Rate 7%
$1,667,614
$1.7M
Cap Rate 9%
$1,297,033
$1.3M
Market Conditions
NOI Build-Up for 9,026 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$162.5K $18.00/SF
− Vacancy
−$6.8K −$0.76/SF
EGI
$155.6K $17.24/SF
− OpEx
−$38.9K −$4.31/SF
NOI
$116.7K $12.93/SF
Area
Saginaw County, MI
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,334,660
Cap Rate 7%
$1,667,614
Cap Rate 9%
$1,297,033
Alternative Uses
Best Use
Specialty Retail
$1.67M
$1.46M – $1.95M
NOI $116,733 @ 7.0% cap · market cap 9.08%
Second Best
Retail
$960.4K
$840.3K – $1.12M
NOI $67,227 @ 7.0% cap · market cap 5.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48417, MI
2,612
Population
1,064
Households
2.5
Avg Household Size
45
Median Age
7%
College-Educated
89%
High-School Grad
23.2 sq mi
ZIP Area
113
Density / Sq Mi
$70,280
Median Household Income
$49,024
Median Earnings
$875
Median Rent
$163,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - NNN Dollar General in Burt, MI with long-term lease.
Where is this grocery and convenience store located?
The property is located at 10600 E Rd Burt, MI.
What is the asking price?
The asking price for this property is $1,285,457.
What are key features of this property?
This property features: Absolute NNN Lease: Dollar General handles all maintenance.; Long‑Term Lease: Enjoy a 15‑year lease, active until 9/30/2032.; Renewal Options: Benefit from five 5‑year renewal options, each with a 10% rent increase.
