5035 Berry Rd Pleasant Lake, MI 49272
- Retail properties
- 10,500 SF
- 2.66 lot acres
Current Use by Public Records
- Retail properties
Property Details for 5035 Berry Rd
- Year built
- 2024
- Lot size
- 2.66 lot acres
- Property size
- 10,500 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a newly constructed (2024), 10,500 square foot Family Dollar store in Pleasant Lake, Michigan. Located at 5035 E Berry Rd, this single-tenant property boasts a 10-year net lease with five 5-year options, featuring $0.50/SF rent bumps in each option. The property sits on a 2.66-acre lot with 42 parking spaces and enjoys a prime location with high visibility on E Berry Road, near Bunkehill Road, offering easy access to Jackson. With a 7.65% cap rate and a strong NOI of $123,375, this asset presents a compelling investment opportunity due to its limited competition (one of only two dollar stores within eight miles) and the credit-rated, corporate guarantee from Family Dollar (NYSE: DLTR, S&P: BBB), the largest small-box discount retailer in the U.S. The property's strategic location provides convenient access to major markets including Jackson (9 miles), Lansing (30 miles), and Ann Arbor (35 miles). The property features a permitted commercial zoning and is 100% occupied. The asking price is $1,612,745, translating to $153.59 per square foot. This fee-simple ownership offers a stable, long-term investment with minimal landlord responsibilities. The property's strong tenant, favorable lease terms, and strategic location make it an attractive addition to any portfolio. The APN is 000-04-21-101-003-04.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pleasant Lake
- County
- Jackson
- State
- Michigan
- Longitude
- -84.3271
- Latitude
- 42.38
