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    2033 Reynolds Rd Interlochen, MI 49643

    Sponsored
    For Sale
    $1,614,075

    15-Year NNN Lease, High ROI

    Property size:
    10,640 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 10,640-square-foot Dollar General Plus store in Interlochen, Michigan. Built in 2023 and situated on a 3.33-acre lot at the hard corner of Reynolds Road and Honor Highway (10,287 cars per day), this property boasts a 15-year absolute NNN lease commencing September 23, 2023, and expiring September 30, 2038. The lease includes five 5-year renewal options with a 5% rent increase every five years. The tenant, Dollar General Corporation, holds an investment-grade "BBB" credit rating and provides a corporate guarantee, ensuring minimal landlord responsibilities. The property features 36 parking spaces and is zoned for commercial use. With a current net operating income (NOI) of $108,143, the asking price of $1,614,075 represents a 6.70% cap rate. The strong demographics, including a 3-mile average household income of $76,120 and a 10-mile population of 34,544, further solidify this investment's potential. This single-tenant, ground lease-free property offers a secure, passive income stream for investors seeking a stable, long-term return. The property's prime location and the tenant's financial strength make this an ideal opportunity for a 1031 exchange or any investor seeking a high-quality, low-maintenance retail investment. The price per square foot is $151.70. The building is a single-story structure with 100% occupancy.

    Property Features for 2033 Reynolds Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,640 SF
    Lot Size
    145,055 SF

    Building Details

    Year Built
    2023
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • New 15‑Year Absolute NNN Lease with 5% rental increases every 5 years.
    • Zero landlord responsibilities.
    • High‑traffic corner lot with 10,287 cars per day.
    • 2023‑built, plus‑size building.
    • Five, five‑year options with 10% rent increases at each option.
    • Three‑mile average household income of $76,120.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dollar General Dollar Store

    Suggested Use

    Realty agency Building Supply Wholesale Shop Hair Salon Hotel & Motel Kitchen & Bath Food Market Grocery Store Storage Facility Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Interlochen
    County
    Benzie
    State
    Michigan
    Longitude
    -85.857505
    Latitude
    44.659927

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    FAQs

    What type of property is this?
    Individual retail property - 15-Year NNN Lease, High ROI
    Where is this individual retail property located?
    The property is located at 2033 Reynolds Rd Interlochen, MI.
    What is the asking price?
    The asking price for this property is $1,614,075.
    What are key features of this property?
    This property features: New 15-Year Absolute NNN Lease with 5% rental increases every 5 years.; Zero landlord responsibilities.; High-traffic corner lot with 10,287 cars per day.
    (248) 419-3810
    Request Owner's contact information
    2033 Reynolds Rd Interlochen, MI 49643
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    Interlochen, MI 49643
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    2033 Reynolds Rd Interlochen, MI 49643
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