5404 Genesee Rd Flint, MI 48506-4512

Property Details for 5404 Genesee Rd

Year built

2015

Lot size

2.41 lot acres

Property size

9,301 SF

Zone code

C-2 HWY COMM

Property type

Commercial real estate

APN

11-23-100-032

APU

1123100032

Description

This exceptional investment opportunity presents a fee-simple, single-tenant retail property occupied by a Dollar General store. Located at 5404 N Genesee Rd, Flint, MI 48506, this 9,026 square foot building sits on a 2.41-acre lot and boasts 34 parking spaces. Built in 2015, the property is a custom-built-to-suit structure designed to meet Dollar General's specifications. The property benefits from a highly visible location on N Genesee Road, experiencing over 12,000 vehicles per day. The current lease, an absolute NNN lease, commenced August 22, 2015, and has a remaining term of 5.8 years, with five, 5-year options including 10% rent bumps. The tenant, Dollar General, is a credit-rated, Fortune 500 company with a corporate guarantee, ensuring a stable income stream. The property's strong financial performance is reflected in its 8.15% cap rate and a net operating income (NOI) of $84,465. The high-density market, with over 60,000 residents within a 5-mile radius and over 245,000 residents within a 10-mile radius, further enhances the investment potential. The property is zoned commercial and features a single story building. This is an ideal investment for those seeking a passive income stream with a strong tenant and a proven track record. The asking price is $1,036,380, translating to $121.53 per square foot.

Location Insight

City

Flint

County

Genesee

State

Michigan

Longitude

-83.6163

Latitude

43.0882

CBSA code

22420

CBSA name

FLINT, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments