Listing Agency: Matthews Real Estate Investment Services | Dallas Show Phone

Listed By: Josh Bishop · License #688810(TX) Show Phone

Source: Moodyscre

Added: Aug 21, 2025 Changed: Oct 4 Last Checked: Oct 5 at 4:54PM

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Investment Insights

Based on property information with market context.

This property features a Dollar General built-to-suit construction completed in 2021. The property is under an absolute NNN lease with approximately 13.25 years remaining on the original 15-year term, which commenced in May 2021. The lease was modified 2.5 years into the base term, extending it to a new 15-year term and incorporating rental increases. The lease includes 5% rental increases every 5 years for the life of the lease. The property requires zero landlord management responsibilities. The surrounding area has an average household income of $77,462. The property is located in Crystal, Michigan, approximately 50 miles east of Grand Rapids. The property size is 9,235 square feet.

Key Highlights

• Long‑term, absolute NNN lease with approximately 13.25 years remaining, providing a passive income stream.
• Dollar General's lease modification to a new 15‑year term with rental increases demonstrates a strong commitment to the location.
• 5% rental increases every 5 years for the life of the lease, offering built‑in income growth.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$102,715

Cap Rate

7.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,054,300 $2.1M

Cap Rate 7%

$1,467,357 $1.5M

Cap Rate 9%

$1,141,278 $1.1M

Market Conditions

NOI Build-Up for 9,235 SF

Gross rent

$143.0K $15.48/SF

− Vacancy

−$6.0K −$0.65/SF

EGI

$137.0K $14.83/SF

− OpEx

−$34.2K −$3.71/SF

NOI

$102.7K $11.12/SF

Area

Montcalm 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%

$2,054,300

Cap Rate 7%

$1,467,357

Cap Rate 9%

$1,141,278

Alternative Uses

Best Use

Specialty Retail

$1.47M

$1.28M – $1.71M (±1% cap)

NOI $102,715 @ 7.0% cap · market cap 7.29%

Second Best

Retail

$1.37M

$1.20M – $1.60M (±1% cap)

NOI $95,868 @ 7.0% cap · market cap 6.81%

Theoretical Best

Self Storage

$127.81M

$111.83M – $149.11M (±1% cap)

NOI $8,946,492 @ 7.0% cap · market cap 635.30%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Dollar General Discount Store Charlie's Pit Stop ... Restaurant

Suggested Use

Top Pick HVAC Service Auto Parts Store Building Supply Plumbing Service Hair Salon Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

81

Businesses Nearby

9k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

4,256 visits/mo 0.1 miles

Citgo Shops & Services

2,655 visits/mo 0.4 miles

Marathon Shops & Services

2,363 visits/mo 0.3 miles

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - NNN Dollar General in Crystal, MI with 13+ years remaining.

Where is this grocery and convenience store located?

The property is located at 705 S Main St Crystal, MI.

What is the asking price?

The asking price for this property is $1,408,242.

What are key features of this property?

This property features: Long‑term, absolute NNN lease with approximately 13.25 years remaining, providing a passive income stream.; Dollar General's lease modification to a new 15‑year term with rental increases demonstrates a strong commitment to the location.; 5% rental increases every 5 years for the life of the lease, offering built‑in income growth.