New Grocery and Convenience
For Sale
Contact for pricing
3628 N Jebavy Dr, Ludington, MI 49431
The property is subject to a corporately guaranteed absolute NNN lease with zero landlord responsibilities.
Property Size10,640 SF
Days on Market144
Property Features for 3628 N Jebavy Dr
General Information
Standard status
Active
Size
10,640 SF
Property subtype
Retail
Net Operating Income
$96,697
Site & Location
Corner Location
Yes
Traffic Count
4,488 vehicles/day
Additional Details
Cap Rate
6.1%
Building Details
Year Built
2023
Tenancy
Single
Listing Agency:
Fortis Net Lease
(248) 419-3810
Listed By:
Bryan Bender · License #MI 6501319610
Source:
Crexi
Added: Apr 11
Changed: Aug 31
Last Checked: Aug 30 at 7:51AM
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 Fortis Net Lease
Investment Insights
Based on property information with market context.
Built in 2023 as a build-to-suit, the 10,640-square-foot Dollar General store has operated since February 2023. The property is leased under a 15-year absolute NNN agreement, with five 5-year renewal options and 10% rent increases during each option period. Dollar General Corporation provides the lease guarantee and carries a BBB investment-grade credit rating.
The store occupies the corner of W Dewey Road and N Jebavy Drive in Ludington, Michigan, a stated tourist destination. The intersection records 4,488 cars per day, and the surrounding market includes a 21,052-person population within ten miles. The offering reflects a 6.10% cap rate and includes fee simple ownership of the leased property.
The store occupies the corner of W Dewey Road and N Jebavy Drive in Ludington, Michigan, a stated tourist destination. The intersection records 4,488 cars per day, and the surrounding market includes a 21,052-person population within ten miles. The offering reflects a 6.10% cap rate and includes fee simple ownership of the leased property.
Key Highlights
- 2023 BTS Dollar General store containing 10,640 SF
- 15‑year absolute NNN lease with zero landlord responsibilities
- Five 5‑year renewal options with 10% rent increases
Property Analytics
Property Profile
Current Use
Lease Details
4,488 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49431, MI
17,044
Population
9,959
Households
1.7
Avg Household Size
48
Median Age
29%
College-Educated
94%
High-School Grad
96.1 sq mi
ZIP Area
177
Density / Sq Mi
$63,313
Median Household Income
$36,924
Median Earnings
$850
Median Rent
$218,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - The property is subject to a corporately guaranteed absolute NNN lease with zero landlord responsibilities.
Where is this grocery and convenience store located?
The property is located at 3628 N Jebavy Dr Ludington, MI.
What are key features of this property?
This property features: 2023 BTS Dollar General store containing 10,640 SF; 15‑year absolute NNN lease with zero landlord responsibilities; Five 5‑year renewal options with 10% rent increases
