26262 M-86Sturgis, MI 49091

Property Details for 26262 M-86

Year built

2023

Lot size

1.61 AC

Property size (Sq ft)

10,640 SF

Property type

Other commercial real estate

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 10,640 square foot Dollar General Plus store in Sturgis, Michigan. The property boasts a 15-year absolute NNN lease, commencing September 2023, and expiring September 30, 2038, with five 5-year renewal options, each including a 5% rent increase. The lease is corporately guaranteed by Dollar General Corporation, holding an investment-grade "BBB" credit rating, ensuring consistent cash flow. Located on M-86, a high-traffic road with 3,768 cars daily, the store benefits from strong demographics: a 10-mile population of 41,101 and a 3-mile average household income of $85,037. Built in 2023, this single-story building sits on a 1.61-acre lot with 30 parking spaces. The property's strong financials are reflected in its 6.75% cap rate, based on a net operating income (NOI) of $100,635, and a price per square foot of $140.12. The asking price is $1,490,889. This is an ideal opportunity for a 1031 exchange or passive investor seeking a secure, long-term investment with built-in rent growth. The property is zoned commercial and features a concrete parking lot. Zero landlord responsibilities are included in this absolute NNN lease.

Location Insight

City

Sturgis

County

St. Joseph

State

Michigan

Latitude

41.9199

Longitude

-85.4442

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