1393 M-139 Benton Harbor, MI 49022
- Retail properties
- 10,640 SF
- 1.36 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1393 M-139
- Year built
- 2024
- Lot size
- 1.36 lot acres
- Property size
- 10,640 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a brand-new, 10,640-square-foot Dollar General Plus store in Benton Harbor, Michigan. Located on M-139, a major thoroughfare with 11,831 cars daily, this strategically positioned retail property boasts a 15-year absolute NNN lease commencing October 14, 2024, and expiring October 31, 2039. The lease includes five 5-year renewal options with a 5% rent increase every five years, ensuring consistent income growth. The property features 38 parking spaces and sits on a 1.36-acre lot. The tenant, Dollar General Corporation, holds an investment-grade credit rating, providing significant financial security. With a current net operating income (NOI) of $125,404, the asking price of $1,885,774 reflects a 6.65% cap rate. The strong demographics, including a five-mile population of 47,438 and a three-mile average household income of $60,934, further solidify this investment's potential. Built in 2024, this single-story building is zoned for commercial use and offers a fee-simple ownership structure. This is an ideal opportunity for a 1031 exchange or passive investor seeking a secure, high-return investment in a proven retail sector. The property's location offers easy access to I-94, enhancing its visibility and accessibility. The absolute NNN lease structure eliminates landlord responsibilities, making this a truly low-maintenance investment.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Benton Harbor
- County
- Berrien
- State
- Michigan
- Longitude
- -86.4351
- Latitude
- 42.093
