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Relocation Dollar General Market (14,672 VPD)

209 S Main St, Scottville (Ludington), MI 49454

Listing Price: $1,931,000

Cap Rate
6.60%
Tenant Name
Dollar General
Years Remaining On Lease
13.9
Guarantor
Corporate Guarantee
Rentable SF
12,480
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.21

Investment Overview

NEW RELOCATION 12,480 SF DOLLAR GENERAL MARKET
• 12,480 SF upgraded construction Dollar General Market located in Scottville, MI.
• This Dollar General is a relocation and expansion of an existing store in this area which shows their commitment and confidence in the this market.
• DG Market is a combo store with fresh produce, milk, meats, and other groceries added to Dollar General’s usual mix of low-price general merchandise.
• This store is open and rent commenced in December 2023.

14 YEAR CORPORATE NNN LEASE WITH INCREASES IN INITIAL TERM
• This property has 14 years left on a 15-year corporate guaranteed NNN lease with Dollar General with 5% rent increases
every 5 years.
• Tenant is 100% responsible for all expenses including parking lot, taxes, insurance, roof and structure.
• There are 5% rent increases in each of the five, 5-year option periods.

LOCATED ON HIGHWAY 10 (14,672 VPD)
• This store is located on Highway 10 (14,672 VPD) which provides direct routes to major regional economic centers, including Ludington, Grand Rapids, and the rest of West Michigan.

NEAR PRIMARY RETAIL CORRIDOR
• The property is located 6 miles away from the primary retail corridor along Highway 10 which serves Scottville, Ludington, and the surrounding area.
• Nearby retailers include Walmart, Home Depot, Lowe’s, ALDI, Meijer, Tractor Supply, Starbuck’s, Taco Bell, and Arby’s.

NEAR LUDINGTON | THRIVING TOURIST TOWN ON LAKE MICHIGAN
• Scottville is located 5 miles form Ludington, a city known for its vibrant tourism industry, including attractions like Ludington State Park and the SS Badger ferry. In 2023 tourists spent $1.09 billion on lodging, food and beverage, retail, recreation, and transportation in the Northwest Michigan region.
• Ludington is home to Ludington State Park (950,000 visitors/year). Often considered the crown jewel of Michigan’s state parks, it spans 5,300 acres with hiking trails, fishing opportunities, canoeing, and the iconic Big Sable Point Lighthouse.
• The Ludington Harbor and marinas offer boating, sailing, and fishing charters, catering to enthusiasts of Lake Michigan’s vast waters.

INVESTMENT GRADE TENANT (S&P: BBB) WITH 21,000 LOCATIONS
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Currently over 21,000 locations and plans to open 750 stores in 2025.
• Dollar General has been in business for 80 years and has a current net worth of over $18.16B

Investment Highlights

  • New Relocation 12,480 SF Dollar General Market
  • 14 Years Corporate NNN Lease With Increases In Initial Term
  • Located On Highway 10 (14,672 VPD)
  • Near Primary Retail Corridor
  • Near Ludington | Thriving Tourist Town On Lake Michigan
  • Investment Grade Tenant (S&P: BBB) With 21,000 Locations

Exclusively Listed By

Broker of Record

  • Steve Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

Discount

Relocation Dollar General Market (14,672 VPD)

Listing Price: $1,931,000

Cap Rate
6.60%
Tenant Name
Dollar General
Years Remaining On Lease
13.9
Guarantor
Corporate Guarantee
Rentable SF
12,480
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.21

Investment Highlights

  • New Relocation 12,480 SF Dollar General Market
  • 14 Years Corporate NNN Lease With Increases In Initial Term
  • Located On Highway 10 (14,672 VPD)
  • Near Primary Retail Corridor
  • Near Ludington | Thriving Tourist Town On Lake Michigan
  • Investment Grade Tenant (S&P: BBB) With 21,000 Locations

Investment Overview

NEW RELOCATION 12,480 SF DOLLAR GENERAL MARKET • 12,480 SF upgraded construction Dollar General Market located in Scottville, MI. • This Dollar General is a relocation and expansion of an existing store in this area which shows their commitment and confidence in the this market. • DG Market is a combo store with fresh produce, milk, meats, and other groceries added to Dollar General’s usual mix of low-price general merchandise. • This store is open and rent commenced in December 2023. 14 YEAR CORPORATE NNN LEASE WITH INCREASES IN INITIAL TERM • This property has 14 years left on a 15-year corporate guaranteed NNN lease with Dollar General with 5% rent increases every 5 years. • Tenant is 100% responsible for all expenses including parking lot, taxes, insurance, roof and structure. • There are 5% rent increases in each of the five, 5-year option periods. LOCATED ON HIGHWAY 10 (14,672 VPD) • This store is located on Highway 10 (14,672 VPD) which provides direct routes to major regional economic centers, including Ludington, Grand Rapids, and the rest of West Michigan. NEAR PRIMARY RETAIL CORRIDOR • The property is located 6 miles away from the primary retail corridor along Highway 10 which serves Scottville, Ludington, and the surrounding area. • Nearby retailers include Walmart, Home Depot, Lowe’s, ALDI, Meijer, Tractor Supply, Starbuck’s, Taco Bell, and Arby’s. NEAR LUDINGTON | THRIVING TOURIST TOWN ON LAKE MICHIGAN • Scottville is located 5 miles form Ludington, a city known for its vibrant tourism industry, including attractions like Ludington State Park and the SS Badger ferry. In 2023 tourists spent $1.09 billion on lodging, food and beverage, retail, recreation, and transportation in the Northwest Michigan region. • Ludington is home to Ludington State Park (950,000 visitors/year). Often considered the crown jewel of Michigan’s state parks, it spans 5,300 acres with hiking trails, fishing opportunities, canoeing, and the iconic Big Sable Point Lighthouse. • The Ludington Harbor and marinas offer boating, sailing, and fishing charters, catering to enthusiasts of Lake Michigan’s vast waters. INVESTMENT GRADE TENANT (S&P: BBB) WITH 21,000 LOCATIONS • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB. • Currently over 21,000 locations and plans to open 750 stores in 2025. • Dollar General has been in business for 80 years and has a current net worth of over $18.16B

Exclusively Listed By

Broker of Record

  • Steve Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

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