18414 Northland DR Active Save Request In-Person Tour Request Virtual Tour
Big Rapids,MI 49307
Key Details
Property Type Commercial
Sub Type Commercial Sale
Listing Status Active
Purchase Type For Sale
MLS Listing ID 292339
Year Built 2021
Annual Tax Amount $14,734
Tax Year 2024
Lot Size 1.750 Acres
Property Sub-Type Commercial Sale
Property Description
Terrific investment opportunity for a 10,760 SF Dollar General Plus store located in Big Rapids, MI the home of Ferris State University. Built new in September 2021, this property offers an investor an Absolute NNN Lease with zero landlord responsibilities, and a corporate guaranteed lease by Dollar General Corporation which holds an S&P Global Rating of BBB. The store is highly visible with strong traffic patterns and good demographics. The original lease was for 15 years starting on September 15, 2021 with 10% bumps every 5 years. There are also 4 (5 year) options with 10% bumps at each option. The current NOI is $91,531 with an increase to $100,684.10 in September 2026. This investment is priced at $1,425,000 representing a 6.42% Cap Rate or $132.43 psf. This is an ideal investment for a 1031 Buyer or someone looking for "passive" income.
Location
State MI
County Mecosta
Interior
Heating Forced Air
Cooling Central Air,Other
Laundry None
Exterior
Parking Features Parking Lot,Concrete
Utilities Available Water Available,Sewer Available,Electricity Available
View Y/N No
Roof Type Flat,Steel
Building
Lot Description City Lot,Corner Lot
Story 1
Sewer Public Sewer
New Construction true
Schools
High Schools Big Rapids
School District Big Rapids
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional