7992 34Th St Richland, MI 49083
- Retail properties
- 12,480 SF
- 2.09 lot acres
Current Use by Public Records
- Retail properties
Property Details for 7992 34Th St
- Year built
- 2024
- Lot size
- 2.09 lot acres
- Property size
- 12,480 SF
- Property type
- Retail properties
- 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 Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Richland
- County
- Kalamazoo
- State
- Michigan
- Longitude
- -85.4353
- Latitude
- 42.3753
