Dollar General NNN Investment
For Sale
$1,285,457
10600 East Rd, Burt, MI 48417
NNN Dollar General in Burt, MI with 15-year lease.
Property Size9,026 SF
Price / SF$142.42
Days on Market273
Property Features for 10600 East Rd
General Information
Standard status
Active
Size
9,026 SF
Property subtype
Retail
Building Details
Building Size
9,026 SF
Listing Agency:
SVN | Silveri Company
(616) 893-1398
Listed By:
Peter Colvin · License #6501197270
(616) 893-1398
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 10
Last Checked: Aug 20 at 5:11AM
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, near attractions such as Frankenmuth, Birch Run Premium Outlets, and Birch Run Speedway. Constructed and opened in 2017, the property has a 15-year base term expiring on 9/30/2032. The lease includes five renewal options of 5 years each, with a 10% rent increase per option. The lease is an absolute triple net lease, with Dollar General responsible for all maintenance, repairs, and replacements. The store serves a surrounding population of over 55,000 people within a 10-mile radius. The property size is 9026 square feet. A Phase 1 Environmental Report and ALTA Survey are available.
Key Highlights
- NNN Lease: Absolute triple net lease with Dollar General, tenant handles all maintenance.
- Long‑Term Lease: Enjoy a secure income stream with a 15‑year base term through 2032.
- Renewal Options: Benefit from five renewal options of 5 years each, featuring 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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
4k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
3,929 visits/mo
0.0 miles
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - NNN Dollar General in Burt, MI with 15-year lease.
Where is this grocery and convenience store located?
The property is located at 10600 East 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: NNN Lease: Absolute triple net lease with Dollar General, tenant handles all maintenance.; Long‑Term Lease: Enjoy a secure income stream with a 15‑year base term through 2032.; Renewal Options: Benefit from five renewal options of 5 years each, featuring a 10% rent increase.
