Single-Tenant Dollar General
For Sale
Contact for pricing
7519 E Michigan Ave., Jackson, MI 49201
Newly opened Dollar General with an absolute NNN lease, corporate guaranty, and scheduled 5% rental increases.
Property Size10,640 SF
Price / SF$202.57
Days on Market67
Property Features for 7519 E Michigan Ave.
General Information
Standard status
Active
Size
10,640 SF
Total Parking Spaces
45
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$147,640
Additional Details
Cap Rate
6.85%
Traffic Count
3,639 vehicles/day
Building Details
Year Built
2025
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Fortis Net Lease
Listed By:
Bryan Bender · License #MI 6501319610
(248) 419-3810
Source:
Crexi
Added: Jul 1
Changed: Aug 24
Last Checked: Sep 2 at 6:51PM
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.
Fortis Net Lease presents a 2025 build-to-suit Dollar General retail property totaling 10,640 SF. Construction is complete and the store opened for business in July 2025. The property is secured by a 15-year absolute NNN lease with zero landlord responsibilities.
The lease includes 5% rental rate increases every five years, with the terms extending through five (5-year) renewal options. Dollar General Corporation provides a corporate guarantee and is rated “BBB,” classified as investment grade.
The store is highly visible, positioned on the corner of Eastland Street & Michigan Avenue, with 3,639 cars per day reported for the location. The offering is described as the only dollar store serving the community and is presented for sale as a fee simple interest, including potential fit for a 1031 exchange buyer or a passive investor.
The lease includes 5% rental rate increases every five years, with the terms extending through five (5-year) renewal options. Dollar General Corporation provides a corporate guarantee and is rated “BBB,” classified as investment grade.
The store is highly visible, positioned on the corner of Eastland Street & Michigan Avenue, with 3,639 cars per day reported for the location. The offering is described as the only dollar store serving the community and is presented for sale as a fee simple interest, including potential fit for a 1031 exchange buyer or a passive investor.
Key Highlights
- 2025 Dollar General Plus (10,640 SF) completed construction and opened for business in July 2025
- Absolute NNN 15‑year lease with zero landlord responsibilities
- Corporate guaranty by Dollar General Corporation (investment grade, BBB rating)
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
$73,378
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
3.40%
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%
$1,467,560
$1.5M
Cap Rate 7%
$1,048,257
$1.0M
Cap Rate 9%
$815,311
$815.3K
Market Conditions
NOI Build-Up for 10,640 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
$127.7K $12.00/SF
− Vacancy
−$22.9K −$2.15/SF
EGI
$104.8K $9.85/SF
− OpEx
−$31.4K −$2.96/SF
NOI
$73.4K $6.90/SF
Area
Jackson County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,467,560
Cap Rate 7%
$1,048,257
Cap Rate 9%
$815,311
Alternative Uses
Best Use
Retail
$1.05M
$917.2K – $1.22M
NOI $73,378 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $118,896 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3,639 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 49201, MI
47,747
Population
18,102
Households
2.6
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
155.0 sq mi
ZIP Area
308
Density / Sq Mi
$71,714
Median Household Income
$36,390
Median Earnings
$945
Median Rent
$202,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Newly opened Dollar General with an absolute NNN lease, corporate guaranty, and scheduled 5% rental increases.
Where is this retail space located?
The property is located at 7519 E Michigan Ave. Jackson, MI.
What is the asking price?
The asking price for this property is $2,155,328.
What are key features of this property?
This property features: 2025 Dollar General Plus (10,640 SF) completed construction and opened for business in July 2025; Absolute NNN 15‑year lease with zero landlord responsibilities; Corporate guaranty by Dollar General Corporation (investment grade, BBB rating)
