6969 Saddler Rd Chase, MI 49623
- Retail space
- 10,640 SF
- 1.00 lot acres
Current Use by Public Records
- Dollar General / Dollar Store / Convenience Store
Property Details for 6969 Saddler Rd
- Year built
- 2024
- Lot size
- 1.00 lot acres
- Property size
- 10,640 SF
- Property type
- Retail space
Description
This exceptional investment opportunity presents a brand-new, 10,640-square-foot Dollar General Plus store in Chase, Michigan, built in 2024. The property boasts a 15.1-year absolute NNN lease commencing June 12, 2024, and expiring June 30, 2039, with a remaining term of 14.6 years. The lease includes built-in rent bumps of 5% every five years, including at each of the five five-year renewal options. This single-tenant property offers zero landlord responsibilities, providing a truly passive investment. The tenant, Dollar General Corporation, holds an investment-grade credit rating of "BBB," ensuring financial stability. Located on a high-traffic corner (S Saddler Rd and Highway 10, 5,201 vehicles per day), this store is the only dollar store serving the community, benefiting from a strong 10-mile population of 10,703 and a three-mile average household income of $63,758. The property sits on a one-acre lot with 32 parking spaces. The asking price of $1,867,660 reflects a 6.75% cap rate based on a net operating income (NOI) of $126,067. This fee-simple ownership offers significant potential for long-term growth and return, making it ideal for 1031 exchange buyers or passive investors seeking a secure, high-yield investment. The property is zoned commercial and features a single, one-story building.
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
- Chase
- County
- Lake
- State
- Michigan
- Longitude
- -85.6228525
- Latitude
- 43.8884011
