Dollar General NNN Investment
For Sale
Contact for pricing
705 S Main St, Crystal, MI
NNN Dollar General in Crystal, MI with 13+ years remaining.
Property Size9,235 SF
Lot Size1.04 Acres
Price / SF$152.49
Days on Market366
Property Features for 705 S Main St
General Information
Standard status
Active
Size
9,235 SF
Lot size
1.04 Acres
Property subtype
RETAIL
Listing Agency:
Matthews Real Estate Investment Services | Dallas
(315) 730-6228
Listed By:
Josh Bishop · License #688810(TX)
(315) 730-6228
Source:
Moodyscre
Added: Aug 21, 2025
Changed: Aug 17
Last Checked: Aug 20 at 10:32AM
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 Matthews Real Estate Investment Services | Dallas
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$102,715
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $102,715 @ 7.0% cap · market cap 7.29%
Second Best
Retail
$1.37M
$1.20M – $1.60M
NOI $95,868 @ 7.0% cap · market cap 6.81%
Theoretical Best
Self Storage
$127.81M
$111.83M – $149.11M
NOI $8,946,492 @ 7.0% cap · market cap 635.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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.
