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Dollar General | Low Rent & Price Point

5885 N U.S. Hwy 131, Manton, MI 49663

Listing Price: $1,642,000

Cap Rate
6.60%
Tenant Name
Dollar General
Years Remaining On Lease
14.2
Guarantor
Corporate Guarantee
Rentable SF
10,640
Lease Type
Absolute Net
Rent Per Square Feet
$10.18

Investment Overview

14.25 YEAR CORPORATE NNN LEASE WITH RENT INCREASES IN INITIAL TERM
• Subject Property has 14.25 years left of 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.

LOW RENT & PRICE POINT
• This Dollar General has a low rent of $108,316 which equates to a low price point of $1,642,000.

NEW CONSTRUCTION 10,640 SF DOLLAR GENERAL
• 10,640 SF upgraded construction Dollar General Market located in Manton, MI.
• The subject property is open and rent commenced in March 2024.

NEAR CADILLAC | 2ND MOST POPULATED CITY IN NORTHERN MICHIGAN
• Cadillac is 12 minutes south of Manton and is the 2nd most populated city in Northern Michigan.
• Home to Baker College of Cadillac (1,340 students), a private, non-profit institution offering a range of
associate and bachelor’s degree programs. • National Retail in Cadillac includes Walmart, Home Depot, ALDI, Dollar Tree, Meijer, Tractor Supply, Hobby Lobby, TJ-Maxx, Save-a-lot, Harbor Freight, and more.
• Manufacturing is a significant sector in Cadillac, Michigan, employing over 26% of the city’s labor force. Notable companies include Avon Automotive, Cadillac Area Public Schools, and Four Winns/ Glastron/Wellcraft/Rec Boat, each employing between 500 and 999 individuals.
• In 2023 tourists spent $1.09 billion on lodging, food and beverage, retail, recreation, and transportation in the Northwest Michigan region.

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 $18.16

Investment Highlights

  • 14.25 Year Corporate NNN Lease With Rent Increases In Initial Term
  • Low Rent & Price Point
  • New Construction 10,640 SF Dollar General
  • Near Cadillac | 2nd Most Populated City In Northern 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

Dollar General | Low Rent & Price Point

Listing Price: $1,642,000

Cap Rate
6.60%
Tenant Name
Dollar General
Years Remaining On Lease
14.2
Guarantor
Corporate Guarantee
Rentable SF
10,640
Lease Type
Absolute Net
Rent Per Square Feet
$10.18

Investment Highlights

  • 14.25 Year Corporate NNN Lease With Rent Increases In Initial Term
  • Low Rent & Price Point
  • New Construction 10,640 SF Dollar General
  • Near Cadillac | 2nd Most Populated City In Northern Michigan
  • Investment Grade Tenant (S&P: BBB) With 21,000 Locations

Investment Overview

14.25 YEAR CORPORATE NNN LEASE WITH RENT INCREASES IN INITIAL TERM • Subject Property has 14.25 years left of 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. LOW RENT & PRICE POINT • This Dollar General has a low rent of $108,316 which equates to a low price point of $1,642,000. NEW CONSTRUCTION 10,640 SF DOLLAR GENERAL • 10,640 SF upgraded construction Dollar General Market located in Manton, MI. • The subject property is open and rent commenced in March 2024. NEAR CADILLAC | 2ND MOST POPULATED CITY IN NORTHERN MICHIGAN • Cadillac is 12 minutes south of Manton and is the 2nd most populated city in Northern Michigan. • Home to Baker College of Cadillac (1,340 students), a private, non-profit institution offering a range of associate and bachelor’s degree programs. • National Retail in Cadillac includes Walmart, Home Depot, ALDI, Dollar Tree, Meijer, Tractor Supply, Hobby Lobby, TJ-Maxx, Save-a-lot, Harbor Freight, and more. • Manufacturing is a significant sector in Cadillac, Michigan, employing over 26% of the city’s labor force. Notable companies include Avon Automotive, Cadillac Area Public Schools, and Four Winns/ Glastron/Wellcraft/Rec Boat, each employing between 500 and 999 individuals. • In 2023 tourists spent $1.09 billion on lodging, food and beverage, retail, recreation, and transportation in the Northwest Michigan region. 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 $18.16

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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