Freestanding Dollar General in
66707 Gratiot Ave Lenox, MI 48050
66707 Gratiot Ave, Lenox, MI, 48050
$1,646,043
For Sale
$1,646,043
Single tenant Dollar General in Lenox, Michigan for sale.
Property Size9,100 SF
Lot Size1.10 Acres
Price / SF$180.88
Days on Market138
Property Features for 66707 Gratiot Ave
General Information
- Standard status
- Active
- Size
- 9,100 SF
- Lot size
- 1.10 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2014
Listing agency
Legacy Real Estate
(248) 450-3259
Listed by
Dominic Shamany · License #MI #6506047766
Source
Legacycrea
Added: Mar 6 Updated: Jul 10 at 1:00PM Checked: Jul 17 at 4:27AM
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 Legacy Real Estate
Investment Insights
Based on property information with market context.
This single-tenant, freestanding Dollar General property is located in Lenox, Michigan, within the Detroit MSA, which is ranked among the top 20 in the U.S. The property, constructed in 2014, features a 9,100-square-foot building situated on a 1.1-acre lot, providing parking and potential for repurposing. The location is in close proximity to Kroger, Little Caesars, Great Clips, and Jimmy John's. The property benefits from a dense surrounding community, with over 1,700 residents within a 1-mile radius and over 8,700 residents within a 3-mile radius. There are also over 2,100 daytime employees within a 1-mile radius. The site experiences high traffic volume, with over 18,500 vehicles passing daily on Gratiot Ave. The average household income within a 1-mile radius exceeds $83,400. The property operates under an NN lease structure, which entails minimal landlord responsibilities.
Key Highlights
- Single tenant free‑standing Dollar General
- Recession proof tenant
- NN lease structure - minimal landlord responsibilities
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $180.2k | $19.80 |
| − Vacancy | −$21.2k | −$2.33 |
| EGI | $159.0k | $17.47 |
| − OpEx | −$39.8k | −$4.37 |
| NOI | $119.3k | $13.11 |
9,100 SF · lease $19.80/SF/yr · vacancy 11.75% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.70M
$1.49M – $1.99M
NOI $119,257 @ 7.0% cap · market cap 7.25%
Second Best
Retail
$961.0K
$840.8K – $1.12M
NOI $67,267 @ 7.0% cap · market cap 4.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dr. Michael T. ...
Physician
Dollar General
Discount Store
FedEx OnSite
Postal Service
Western Union
Bank
FAQs
What type of property is this?
Grocery and convenience store - Single tenant Dollar General in Lenox, Michigan for sale.
Where is this grocery and convenience store located?
The property is located at 66707 Gratiot Ave Lenox, MI.
What is the asking price?
The asking price for this property is $1,646,043.
What are key features of this property?
This property features: Single tenant free‑standing Dollar General; Recession proof tenant; NN lease structure - minimal landlord responsibilities
