9495 Greenville Rd Lakeview, MI 48850
- Retail properties
- 10,640 SF
- 1.65 lot acres
Current Use by Public Records
- Retail properties
Property Details for 9495 Greenville Rd
- Year built
- 2022
- Lot size
- 1.65 lot acres
- Property size
- 10,640 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple ownership of a 10,640-square-foot Dollar General store in Lakeview, Michigan. Built in 2022, this single-story building sits on a 1.65-acre lot in a high-traffic location at the signalized intersection of N Greenville Rd and State Route 46, experiencing 10,718 cars daily. The property boasts a 15.1-year absolute NNN lease (12.4 years remaining), commencing April 15, 2022, and expiring April 30, 2037. The lease includes five 5-year renewal options with a 5% rent increase every five years. The tenant, Dollar General Corporation, holds an investment-grade credit rating of "BBB," providing significant financial security. The current annual net operating income (NOI) is $101,792, yielding a 6.75% cap rate at the asking price of $1,508,035 ($141.73 per square foot). The property's strategic location near local schools, a McDonald's, gas station, church, and bank, combined with a strong three-mile average household income of $64,986 and a ten-mile population of 17,883, ensures consistent profitability. This is an ideal opportunity for a 1031 exchange buyer or passive investor seeking a low-maintenance, high-return investment with a nationally recognized, creditworthy tenant. The property is zoned commercial and offers zero landlord responsibilities.
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
- Lakeview
- County
- Montcalm
- State
- Michigan
- Longitude
- -85.2637
- Latitude
- 43.4284
