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    6850 Main St Caseville, MI 48725

    Sponsored
    For Sale
    $838,400

    High-return Dollar General NNN lease.

    Property size:
    9,014 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fee-simple ownership of a 9,014 square-foot Dollar General convenience store located at 6850 Main St, Caseville, MI 48725. The property sits on a 0.44-acre lot and boasts a single-story building constructed in 1997. Currently operating at 100% occupancy, the store benefits from a Net Net Net (NNN) lease with a corporate guarantee from Dollar General, a tenant with an investment-grade credit rating. The lease, with a remaining term of 8.8 years, expires May 31, 2028, and includes a 15% rent increase at the next renewal. The property's strong financial performance is evidenced by its annual sales exceeding $2.1 million, resulting in a very healthy rent-to-sales ratio of less than 3%. Recent improvements include the replacement of both HVAC units in 2023 at a cost of $40,000. The store's prime location on Main Street, the central artery of Caseville, ensures high visibility within this summer home/lake community. The ten-mile population is 8,508, with an average household income of $39,999 per year. This offering is ideal for 1031 exchange buyers or passive investors seeking a stable, high-performing retail asset with a strong tenant and significant remaining lease term. The asking price is $838,400, translating to $93.01 per square foot.

    Property Features for 6850 Main St

    General Information

    Property type
    Individual retail properties
    Square Feet
    9,014 SF
    Lot Size
    19,166 SF

    Building Details

    Year Built
    1997
    Buildings
    1
    Stories
    1

    HighLights

    • Fee‑simple ownership of a 9,014 SF Dollar General store on a 0.44‑acre lot in Caseville, MI.
    • NNN lease with corporate guarantee; 8.8 years remaining, expiring May 2028, with a 15% rent increase at renewal.
    • High‑visibility location on Main Street in a summer home/lake community.
    • Ten‑mile population of 8,508 with an average household income of $39,999.
    • HVAC systems replaced in 2023.
    • Strong profitability with annual sales exceeding $2.1M and a rent‑to‑sales ratio under 3%.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Wholesale Shop Auto Repair Shop Hair Salon Pharmacy Clothing Store Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Caseville
    County
    Huron
    State
    Michigan
    Longitude
    -83.273973
    Latitude
    43.937754

    Nearby Similar for Sale

    • $249,000

      Downtown Caseville Commercial Building

      Commercial building in downtown Caseville with high traffic location.
      7039 Main St M-25 Hwy, Caseville, MI 48725
      View Details
    • $500,000
      1,546 SF

      Caseville Gas Station & Mini-Mart

      Thriving Downtown Business - High Sales Potential
      6631 Main St, Caseville, MI 48725
      View Details

    FAQs

    What type of property is this?
    Individual retail property - High-return Dollar General NNN lease.
    Where is this individual retail property located?
    The property is located at 6850 Main St Caseville, MI.
    What is the asking price?
    The asking price for this property is $838,400.
    What are key features of this property?
    This property features: Fee-simple ownership of a 9,014 SF Dollar General store on a 0.44-acre lot in Caseville, MI.; NNN lease with corporate guarantee; 8.8 years remaining, expiring May 2028, with a 15% rent increase at renewal.; High-visibility location on Main Street in a summer home/lake community.
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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
    6850 Main St Caseville, MI 48725
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