6850 Main St Caseville, MI 48725
- Commercial real estate
- 0.89 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 6850 Main St
- Lot size
- 0.89 lot acres
- Property type
- Commercial real estate
- APN
- 53-875-571-00
- APU
- 5387557100
Description
This exceptional investment opportunity presents a fee-simple ownership of a 9,014 square-foot Dollar General convenience store located at 6850 Main St, Caseville, MI 48725. The property sits on a 0.44-acre lot and boasts a single-story building constructed in 1997. Currently operating at 100% occupancy, the store benefits from a Net Net Net (NNN) lease with a corporate guarantee from Dollar General, a tenant with an investment-grade credit rating. The lease, with a remaining term of 8.8 years, expires May 31, 2028, and includes a 15% rent increase at the next renewal. The property's strong financial performance is evidenced by its annual sales exceeding $2.1 million, resulting in a very healthy rent-to-sales ratio of less than 3%. Recent improvements include the replacement of both HVAC units in 2023 at a cost of $40,000. The store's prime location on Main Street, the central artery of Caseville, ensures high visibility within this summer home/lake community. The ten-mile population is 8,508, with an average household income of $39,999 per year. This offering is ideal for 1031 exchange buyers or passive investors seeking a stable, high-performing retail asset with a strong tenant and significant remaining lease term. The asking price is $838,400, translating to $93.01 per square foot.
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
- Caseville
- County
- Huron
- State
- Michigan
- Longitude
- -83.2739
- Latitude
- 43.9377
