NNN Lease Dollar General
For Sale
Contact for pricing
1406 US-2, Bessemer, MI 49911
New 2020 Dollar General with long-term NNN lease.
Property Size9,100 SF
Price / SF$136.92
Days on Market251
Property Features for 1406 US-2
General Information
Standard status
Active
Size
9,100 SF
Class
B
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$93,500
Building Details
Year Built
2020
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Indianapolis
Listed By:
Damien Yoder · License #IN RB14050667
(317) 218-5314
Source:
Crexi
Added: Jan 28
Changed: Sep 12
Last Checked: Oct 5 at 6:59PM
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 Marcus & Millichap - Indianapolis
Investment Insights
Based on property information with market context.
This property, built in 2020, is occupied by Dollar General (NYSE: DG), which has over 20,500 locations in 48 states and holds a BBB rating by S&P. The tenant recently completed an interior remodel, demonstrating commitment to the site. The property has 10.67 years remaining on an absolute NNN lease, meaning there are no landlord responsibilities. The lease includes 10% rental increases in each five-year option period. The building features a metal roof and a corporate guarantee. The property is located near residential areas and local area retail establishments and benefits from year-round visitors to nearby recreational areas such as Ottawa National Forest, Lake Superior, Bluff Valley Park, Black River Falls, and the Iron Belle Trail. It is situated near Black River Ski Resort, Snowriver Mountain Resort, Big Powderhorn Mountain and Blackjack Ski Area and five miles from Indianhead Valley Condos. The location offers excellent visibility from highly trafficked US Hwy 2, the longest highway in the Upper Peninsula, which connects Ironwood and Wakefield, MI. The property is suitable for grocery and convenience store, retail, and specialty purposes.
Key Highlights
- Absolute NNN Lease with 10.67 Years Remaining - No Landlord Responsibilities
- 10% Rental Increases in Each Five‑Year Option
- Corporate Guarantee from Dollar General (NYSE: DG), BBB Rated by S&P
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,214
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,024,280
$2.0M
Cap Rate 7%
$1,445,914
$1.4M
Cap Rate 9%
$1,124,600
$1.1M
Market Conditions
NOI Build-Up for 9,100 SF
Gross rent
$140.9K $15.48/SF
− Vacancy
−$5.9K −$0.65/SF
EGI
$135.0K $14.83/SF
− OpEx
−$33.7K −$3.71/SF
NOI
$101.2K $11.12/SF
Area
Gogebic County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,024,280
Cap Rate 7%
$1,445,914
Cap Rate 9%
$1,124,600
Alternative Uses
Best Use
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,214 @ 7.0% cap · market cap 8.12%
Second Best
Retail
$1.35M
$1.18M – $1.57M
NOI $94,466 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,286 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49911, MI
2,626
Population
1,879
Households
1.4
Avg Household Size
49
Median Age
19%
College-Educated
97%
High-School Grad
45.5 sq mi
ZIP Area
58
Density / Sq Mi
$51,326
Median Household Income
$28,778
Median Earnings
$529
Median Rent
$109,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - New 2020 Dollar General with long-term NNN lease.
Where is this grocery and convenience store located?
The property is located at 1406 US-2 Bessemer, MI.
What is the asking price?
The asking price for this property is $1,246,000.
What are key features of this property?
This property features: Absolute NNN Lease with 10.67 Years Remaining - No Landlord Responsibilities; 10% Rental Increases in Each Five‑Year Option; Corporate Guarantee from Dollar General (NYSE: DG), BBB Rated by S&P
