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    New Dollar General Store Investment Title is generated by Realmo AI

    8336 Mill St, Vanderbilt, MI 49795

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    New Dollar General store with a 15-year absolute NNN lease.

    Type:Retail
    Property size:
    9,100 SF
    Price / SF:
    $218/SF
    Added:
    Mar 8, 2026
    Days on Market:
    67
    Last Refresh:
    Mar 18 at 7:48 am

    Property Features for 8336 Mill St

    General Information

    Standard status
    Active
    Size
    9,100 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2026

    We can help!

    Listing Contact
    Bryan Bender
    Bryan Bender

    Listing agent Bryan Bender License #MI 6501319610

    Listing office Fortis Net Lease

    Listing date Mar 8, 2026

    Source Crexi

    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

    HighLights

    • 15 year absolute NNN lease with zero landlord responsibilities
    • Corporate guarantee by investment grade tenant (Dollar General, “BBB”)
    • 5% rental rate increases every 5 years (including option periods)
    • New 2026 construction with rent starting April 2026
    • Strategically located off I‑75 exit with high visibility (10,295 cars per day)
    • Strong demographics: 14,395 population (10 mile radius) & $66,871 average household income (3 mile radius)

    Overview

    This property features a Dollar General store, currently under construction and scheduled to open in April 2026. The store is secured by a 15-year absolute NNN lease, meaning there are no landlord responsibilities. The lease includes 5% rental rate increases every 5 years, including at each of the five 5-year renewal options. Dollar General Corporation, which guarantees the lease, holds a credit rating of "BBB", classified as investment grade. The store is strategically located off of the I-75 Exit, with high visibility on the corner of Mill Street and Yuill Road. Traffic counts show 10,295 cars per day on the I-75 Exit and 3,006 cars per day on Mill Street. The property has two points of access and is accessible from both streets. Within a 10-mile radius of the site, the population is 14,395, and the average household income within a 3-mile radius is $66,871 per year. The property size is 9,100 square feet. The list price reflects a 6.60% cap rate based on a net operating income of $131,525. This property is located in Vanderbilt, Michigan.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Nail Salon Auto Repair Shop Kitchen & Bath Showroom Bar & Pub Storage Facility Grocery & Convenience Store Car Rental Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Vanderbilt
    County
    Otsego
    State
    Michigan
    Longitude
    -84.664678
    Latitude
    45.147072

    Nearby Similar for Sale

    • $280,000

      Vanderbilt Multi-Unit Investment Opportunity

      Multi-unit property with income potential in downtown Vanderbilt.
      566 E MAIN STREET, VANDERBILT, MI 49795
      View Details
    • $875,000
      1 SF

      Vanderbilt Income Property Opportunity

      Mixed-use property with storage units, workshops, and commercial spaces.
      7736 ,7844 Mill St, Vanderbilt, MI 49795
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - New Dollar General store with a 15-year absolute NNN lease.
    Where is this grocery and convenience store located?
    The property is located at 8336 Mill St Vanderbilt, MI.
    What is the asking price?
    The asking price for this property is $1,992,803.
    What are key features of this property?
    This property features: 15 year absolute NNN lease with zero landlord responsibilities; Corporate guarantee by investment grade tenant (Dollar General, “BBB”); 5% rental rate increases every 5 years (including option periods)
    (248) 419-3810 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bryan Bender
    Bryan Bender
    Real Estate License ID: MI 6501319610
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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