4347 F 41st, Unit 4349 Oscoda, MI 48750-9414

Property Details for 4347 F 41st

Lot size

1.92 lot acres

Property type

Commercial real estate

APN

064A3500006750

APU

064A3500006750

Description

This exceptional investment opportunity presents a brand-new, 12,480-square-foot Dollar General store in Oscoda, Michigan. The property boasts a 15-year absolute NNN lease, commencing January 28, 2024, and expiring January 31, 2039, with a remaining term of 14.2 years. This provides a passive income stream with zero landlord responsibilities. The lease includes attractive 5% rent increases every five years, ensuring consistent growth in rental income. Dollar General, a credit-rated tenant with a corporate guarantee, holds a "BBB" credit rating, signifying investment-grade stability. The store is situated on a 1.95-acre lot with 37 parking spaces and benefits from a high-traffic location on F-41, seeing 6,786 cars daily at a signalized intersection. Its proximity to Alpena Community College and Oscoda-Wurtsmith Airport further enhances its appeal. The property's strong demographics include an 11,166 population within a ten-mile radius and a three-mile average household income of $49,878. The asking price of $1,994,388 reflects a 6.70% cap rate based on a net operating income (NOI) of $133,624. The lease includes five five-year renewal options, each with a 5% rent increase. This fee-simple ownership presents a compelling opportunity for 1031 exchange buyers or passive investors seeking a secure, high-return retail investment. The building, constructed in 2024, is a single-story structure with commercial zoning. This is a plus-sized, super-sized prototype Dollar General store.