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Dollar General

1615 Merriman Rd, Westland, MI 48186

Listing Price: $1,363,000

Cap Rate
6.65%
Tenant Name
Dollar General
Years Remaining On Lease
6.4
Gross SF
9,100
Guarantor
Corporate Guarantee
Rentable SF
9,100
Price/Gross SF
$149.78
Lease Type
Double Net
Rent Per Square Feet
$9.96

Investment Overview

Marcus & Millichap is pleased to bring to market Dollar General located in the dense infill suburb of Westland, Michigan.

Investment Highlights

  • Dollar General Double-Net Lease with Six and a Half Years Remaining in Infill Suburban Detroit (Westland, Michigan)
  • Extremely Dense Infill Location Along Major Arterial with 14,000 Residents within a One-Mile Radius
  • Five-Year Extension Exercised Over Four Years in Advance of Initial Lease Expiration at Five Percent Increase in Rent Demonstrating Strong Commitment to the Site
  • Located on Merriman Road Less Than One-Mile North of Michigan Avenue –High Traffic North-South Corridor with 40,000 Vehicles Per Day
  • Investment-Grade Tenant Carrying S&P "BBB" Credit Rating; $50 Billion Market Cap Publicly-Traded Company with Over 17,300 Stores in 46 States
  • Double-Net Lease with Minimal Landlord Responsibilities – Mostly Just Roof and Structure; Tenant Responsible for HVAC and Parking Lot Repairs, and Parking Lot Sealing and Striping
  • Dense Middle-Income Demographics in all Radius Rings –114,550 Residents in Three-Miles and 267,725 Residents in Five-Miles; Five-Mile Average Household Income of $66,000
  • Complete Gut Renovation of Existing Building in 2012 – Masonry Construction with Prototypical 9,100 Square Feet Footprint and Excellent Visibility

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Listing Price: $1,363,000

Cap Rate
6.65%
Tenant Name
Dollar General
Years Remaining On Lease
6.4
Gross SF
9,100
Guarantor
Corporate Guarantee
Rentable SF
9,100
Price/Gross SF
$149.78
Lease Type
Double Net
Rent Per Square Feet
$9.96

Investment Highlights

  • Dollar General Double-Net Lease with Six and a Half Years Remaining in Infill Suburban Detroit (Westland, Michigan)
  • Extremely Dense Infill Location Along Major Arterial with 14,000 Residents within a One-Mile Radius
  • Five-Year Extension Exercised Over Four Years in Advance of Initial Lease Expiration at Five Percent Increase in Rent Demonstrating Strong Commitment to the Site
  • Located on Merriman Road Less Than One-Mile North of Michigan Avenue –High Traffic North-South Corridor with 40,000 Vehicles Per Day
  • Investment-Grade Tenant Carrying S&P "BBB" Credit Rating; $50 Billion Market Cap Publicly-Traded Company with Over 17,300 Stores in 46 States
  • Double-Net Lease with Minimal Landlord Responsibilities – Mostly Just Roof and Structure; Tenant Responsible for HVAC and Parking Lot Repairs, and Parking Lot Sealing and Striping
  • Dense Middle-Income Demographics in all Radius Rings –114,550 Residents in Three-Miles and 267,725 Residents in Five-Miles; Five-Mile Average Household Income of $66,000
  • Complete Gut Renovation of Existing Building in 2012 – Masonry Construction with Prototypical 9,100 Square Feet Footprint and Excellent Visibility

Investment Overview

Marcus & Millichap is pleased to bring to market Dollar General located in the dense infill suburb of Westland, Michigan.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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