6969 Saddler RdChase, MI 49623

Property Details for 6969 Saddler Rd

Year built

2024

Lot size

1.00 AC

Property size (Sq ft)

10,640 SF

Property type

Retail properties

Property subtype

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.

Location Insight

City

Chase

County

Lake

State

Michigan

Latitude

43.8884

Longitude

-85.6229

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