Dollar General NNN Investment
3607 68th St SE Caledonia, MI 49316
3607 68th St SE, Caledonia, MI, 49316
$1,355,785
For Sale
$1,355,785
NNN leased Dollar General with corporate guarantee in Caledonia, MI.
Property Size9,301 SF
Lot Size1.83 Acres
Price / SF$145.77
Days on Market758
Property Features for 3607 68th St SE
General Information
- Standard status
- Active
- Size
- 9,301 SF
- Lot size
- 1.83 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2013
Listing agency
Encore Real Estate Investment Services
(248) 702-0288
Listed by
Deno Bistolarides · License #MI 6502378067
(248) 702-0288
Source
Cpix.resimplifi
Added: Jun 25, 2024 Updated: Jul 10 at 1:16PM Checked: Jul 22 at 2:19AM
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 Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
This 9,301 square foot building, constructed in 2013 to suit Dollar General's specifications, is situated on 1.83 acres. The property is under an absolute NNN lease, offering zero landlord responsibilities. With over 4 years remaining on the lease, it includes five 5-year options to renew, each with increases in the option period. The location in Caledonia, a growing suburban market 20 minutes from downtown Grand Rapids, benefits from strong retail, residential, and industrial growth. The lease is corporately backed by Dollar General, rated "BBB" by Standard & Poor's. The property is located 1 mile from a 1MM square foot Amazon Fulfillment Center and an 800K SF Amazon Sort Center, constructed in 2020, employing close to 3,000 people. Its location on 68th Street, a retail mainstay in the Caledonia/Gaines Township market, is in close proximity to strong suburban residential developments and Gerald Ford International Airport. Within a 5-minute drive, there is 7.1M square feet of industrial & distribution space. Nearby properties include Steelcase Manufacturing (600K SF) and Coca Cola Distribution Center (200K SF), along with Amazon (1.8MM SF) and many other national, regional, and industrial & distribution tenants.
Key Highlights
- Absolute NNN Lease - Zero Landlord Responsibilities
- Corporate Backed Guarantee by Dollar General - 'BBB' By Standard & Poor's
- Strong Location and Demographics - Growing Suburban Market near Grand Rapids
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 | $144.0k | $15.48 |
| − Vacancy | −$6.0k | −$0.65 |
| EGI | $137.9k | $14.83 |
| − OpEx | −$34.5k | −$3.71 |
| NOI | $103.4k | $11.12 |
9,301 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.48M
$1.29M – $1.72M
NOI $103,449 @ 7.0% cap · market cap 7.63%
Second Best
Retail
$1.38M
$1.21M – $1.61M
NOI $96,553 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$1.66M
$1.46M – $1.94M
NOI $116,448 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
FedEx OnSite
Postal Service
Dollar General
Discount Store
Western Union
Bank
Similar For Sale Nearby
FAQs
What type of property is this?
NNN property - NNN leased Dollar General with corporate guarantee in Caledonia, MI.
Where is this nnn property located?
The property is located at 3607 68th St SE Caledonia, MI.
What is the asking price?
The asking price for this property is $1,355,785.
What are key features of this property?
This property features: Absolute NNN Lease - Zero Landlord Responsibilities; Corporate Backed Guarantee by Dollar General - 'BBB' By Standard & Poor's; Strong Location and Demographics - Growing Suburban Market near Grand Rapids
