1244 Mcdevitt Ave Jackson, MI 49203-6073

Property Details for 1244 Mcdevitt Ave

Year built

2007

Lot size

1.09 lot acres

Property size

8,050 SF

Zone code

C-1

Property type

Outlet malls

APN

000-13-24-151-045-06

APU

132415104506

Description

This exceptional investment opportunity presents a 8,050 square foot Family Dollar store in Jackson, Michigan. Located on E McDevitt Ave, directly off Highway 127 (with high daily traffic volume), this property boasts a strong 9.00% cap rate and a healthy rent-to-sales ratio. The property features a recently extended corporate net lease with Dollar Tree (NYSE: DLTR), a Fortune 500 company with an S&P investment grade credit rating, guaranteeing financial stability. The lease, originally commencing January 31, 2007, and recently extended in January 2023, has a remaining term of approximately 3 years, extending to November 30, 2027, with built-in 10% rent increases in each of the remaining five, 5-year option periods. The asking price is $806,000 ($100.12/sq ft), and the Net Operating Income (NOI) is $72,500. The tenant is responsible for most operating expenses, including taxes, insurance, HVAC, and utilities, minimizing landlord responsibilities to roof, structure, and major parking lot repairs. The 1.09-acre lot houses a building constructed in 2007. Jackson's robust economy, anchored by major employers like CMS Energy, Henry Ford Health Systems, and Eaton Corporation, along with several colleges and universities, further enhances the investment's appeal. This is a rare opportunity to acquire a well-positioned, high-performing retail asset with a secure, long-term lease.

Location Insight

City

Jackson

County

Jackson

State

Michigan

Longitude

-84.3821

Latitude

42.1973

CBSA code

27100

CBSA name

JACKSON, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments