Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    7992 34Th St Richland, MI 49083

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7992 34Th St Richland, MI 49083

    View on Map
    • Retail properties & Spaces
    • 12,480 SF
    • 2.09 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 7992 34Th St

    Year built
    2024
    Lot size
    2.09 lot acres
    Property size
    12,480 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional investment opportunity presents a brand-new, 12,480-square-foot Dollar General Market in Richland, Michigan. Located on a high-traffic corner (13,173 cars daily), this single-tenant property boasts a 15-year absolute NNN lease commencing October 27, 2024, and expiring October 31, 2039. The lease includes five 5-year renewal options, each with a 5% rent increase. The tenant, Dollar General, holds a BBB credit rating and provides a corporate guarantee, minimizing landlord responsibilities. The property features 40 parking spaces and sits on a 2.09-acre lot. Built in 2024, this one-story building is zoned commercial and offers a strong return on investment with a 6.65% cap rate and a net operating income (NOI) of $128,803. The asking price is $1,936,887 ($155.20/sq ft). The strong demographics of the area, including a 10-mile population of 97,517 and a 3-mile average household income of $110,207, further solidify this investment's potential. This is a fee-simple ownership opportunity with minimal risk and significant long-term growth prospects. The property's strategic location and the tenant's financial strength make this a compelling investment for passive investors or those seeking a 1031 exchange. The Dollar General Market's relocation to this site signifies proven market success and continued demand.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Richland
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.4353
    Latitude
    42.3753

    Comparable in this City

    • Value Estimation by Request
      7,279 SF

      8709 Gull Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,279 SF
      8709 Gull Rd, Richland, MI 49083-8314
      View Details
    • Value Estimation by Request
      3,250 SF

      8869 32Nd St

      Restaurants • 3,250 SF
      8869 32Nd St, Richland, MI 49083
      View Details
    • Value Estimation by Request
      2.00 Acres

      M M-43

      Land • 2.00 Acres
      0 M M-43, Richland, MI 49083
      View Details
    • Value Estimation by Request
      3.53 Acres

      8818 32nd St

      COMMERCIAL (GENERAL) • 3.53 Acres
      8818 32nd St, Richland, MI 49083-8555
      View Details
    • Value Estimation by Request
      4.50 Acres

      34th St

      COMMERCIAL (GENERAL) • 4.50 Acres
      34th St, Richland, MI 49083
      View Details
    • Value Estimation by Request

      10391 G Ave

      COMMERCIAL (GENERAL)
      10391 G Ave, Richland, MI 49083-9392
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Commercial Corner Lots

      4.6 acres of commercial real estate at M89 and M43.
      M M-43, Richland, MI 49083
      View Details
    • $99,900
      0.32 Acres

      Richland Vacant Lot For Sale

      Vacant lot in Richland, Gull Lake School District.
      9199 E D Ave, Richland, MI 49083
      View Details
    • $33,930
      0.25 Acres

      Residential Land in Gated Community

      Wooded lots in a gated community near Cranes Pond.
      6963 Railway Ct, Richland, MI 49083
      View Details
    • $120,000
      1.84 Acres

      Richland, MI Land For Sale

      1.84 acre lot near Gull Lake Country Club.
      10433 Country Club Dr, Richland, MI 49083
      View Details
    • $55,000
      2.00 Acres

      Richland Land for Custom Home

      Two-acre parcel near park, ideal for building a dream home.
      9137 Ef Ave E, Richland, MI 49083
      View Details
    • $33,930
      0.25 Acres

      Residential Land in Gated Community

      Wooded lots in a gated community near Cranes Pond.
      6943 Railway Ct, Richland, MI 49083
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      856 SF

      Gull Lake Waterfront Commercial Space

      Office or retail space available at Franklin Beach, Gull Lake.
      12173 E D Ave, Richland, MI 49083
      View Details
    • Contact for pricing

      Class A Office Building Available

      Move-in ready office space with high visibility in Richland.
      8275 N 32Nd St, Richland, MI 49083
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7992 34Th St
    Richland, MI 49083
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    7992 34Th St, Richland, MI, 49083

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!