2033 Reynolds RdInterlochen, MI 49643

Property Details for 2033 Reynolds Rd

Lot size

3.33 AC

Property type

Commercial land

APN

08-011-012-10

APU

801101210

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 10,640-square-foot Dollar General Plus store in Interlochen, Michigan. Built in 2023 and situated on a 3.33-acre lot at the hard corner of Reynolds Road and Honor Highway (10,287 cars per day), this property boasts a 15-year absolute NNN lease commencing September 23, 2023, and expiring September 30, 2038. The lease includes five 5-year renewal options with a 5% rent increase every five years. The tenant, Dollar General Corporation, holds an investment-grade "BBB" credit rating and provides a corporate guarantee, ensuring minimal landlord responsibilities. The property features 36 parking spaces and is zoned for commercial use. With a current net operating income (NOI) of $108,143, the asking price of $1,614,075 represents a 6.70% cap rate. The strong demographics, including a 3-mile average household income of $76,120 and a 10-mile population of 34,544, further solidify this investment's potential. This single-tenant, ground lease-free property offers a secure, passive income stream for investors seeking a stable, long-term return. The property's prime location and the tenant's financial strength make this an ideal opportunity for a 1031 exchange or any investor seeking a high-quality, low-maintenance retail investment. The price per square foot is $151.70. The building is a single-story structure with 100% occupancy.

• Alternative Use

  Use

  Valuation

  Residential

  $30,324,600

  Hospitality

  $27,777,170

  Educational

  $23,110,280

  Medical

  $23,905,078

  Retail

  $35,949,324

Location Insight

City

Interlochen

County

Benzie

State

Michigan

Latitude

44.6599

Longitude

-85.8575

CBSA code

45900

CBSA name

TRAVERSE CITY, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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