Family Dollar Absolute NNN
For Sale
Contact for pricing
G4386 S SAGINAW ST, Burton, MI 48529
Absolute NNN Family Dollar on signalized corner with long-tenured operator and percentage rent provision.
Property Size9,637 SF
Price / SF$98.58
Days on Market97
Property Features for G4386 S SAGINAW ST
General Information
Standard status
Active
Size
9,637 SF
Class
A
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$78,000
Building Details
Year Built
1994
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Fortis Net Lease
Listed By:
Patrick Hammond · License #MI 6501373051
Source:
Crexi
Added: Jun 2
Changed: Aug 26
Last Checked: Sep 3 at 3:45AM
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 is pleased to offer a Family Dollar store totaling 9,555 square feet, operating under an absolute NNN lease structure. Under the terms of the lease, the tenant is responsible for taxes, insurance, roof, structure, parking, and all maintenance and repairs, with zero landlord responsibilities. The store has been continuously occupied and operating at this location for more than 30 years, originally opening in 1994 and exercising renewal options available under the lease.
The property is situated on a signalized corner in Burton, Michigan. The tenant’s long operating history at this site, combined with a dense surrounding residential trade area of nearly 50,000 residents within 3 miles, supports the store’s established presence in the market.
This offering is structured for investors seeking a passive NNN asset with a long-tenured operator. The current rent is stated at $6.38 per square foot, and the lease includes a percentage rent clause, with $17,500 in additional percentage rent collected in 2025 above base rent, bringing total collected rent to $78,500 for the year. Approximately 1.8 years remain on the current option period through December 31, 2027, followed by one final 5-year renewal option available through 2032.
The property is situated on a signalized corner in Burton, Michigan. The tenant’s long operating history at this site, combined with a dense surrounding residential trade area of nearly 50,000 residents within 3 miles, supports the store’s established presence in the market.
This offering is structured for investors seeking a passive NNN asset with a long-tenured operator. The current rent is stated at $6.38 per square foot, and the lease includes a percentage rent clause, with $17,500 in additional percentage rent collected in 2025 above base rent, bringing total collected rent to $78,500 for the year. Approximately 1.8 years remain on the current option period through December 31, 2027, followed by one final 5-year renewal option available through 2032.
Key Highlights
- 9,555 SF Family Dollar on a signalized corner in Burton, Michigan
- Absolute NNN lease with tenant responsible for taxes, insurance, roof, structure, parking, and all maintenance/repairs
- Tenant operating since 1994 with over 30 years of continuous occupancy and renewals exercised
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
$85,449
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
8.99%
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%
$1,708,980
$1.7M
Cap Rate 7%
$1,220,700
$1.2M
Cap Rate 9%
$949,433
$949.4K
Market Conditions
NOI Build-Up for 9,637 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
$138.8K $14.40/SF
− Vacancy
−$24.8K −$2.58/SF
EGI
$113.9K $11.82/SF
− OpEx
−$28.5K −$2.96/SF
NOI
$85.4K $8.87/SF
Area
Genesee County, MI
Vacancy
17.90%
Lease Rate
$14.40 /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%
$1,708,980
Cap Rate 7%
$1,220,700
Cap Rate 9%
$949,433
Alternative Uses
Best Use
Retail
$1.43M
$1.25M – $1.67M
NOI $100,041 @ 7.0% cap · market cap 10.53%
Second Best
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,449 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$2.03M
$1.77M – $2.37M
NOI $141,952 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,850
Businesses Nearby
Explore this area
Business Placement
Demographics for 48529, MI
9,560
Population
4,430
Households
2.2
Avg Household Size
37
Median Age
8%
College-Educated
86%
High-School Grad
4.8 sq mi
ZIP Area
1,992
Density / Sq Mi
$38,021
Median Household Income
$24,189
Median Earnings
$1,003
Median Rent
$74,000
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?
NNN property - Absolute NNN Family Dollar on signalized corner with long-tenured operator and percentage rent provision.
Where is this nnn property located?
The property is located at G4386 S SAGINAW ST Burton, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 9,555 SF Family Dollar on a signalized corner in Burton, Michigan; Absolute NNN lease with tenant responsible for taxes, insurance, roof, structure, parking, and all maintenance/repairs; Tenant operating since 1994 with over 30 years of continuous occupancy and renewals exercised
