MI > Big Rapids
Big Rapids, MI 49307,18414 Northland DR
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Big Rapids, MI 49307,18414 Northland DR
Big Rapids, MI 49307,18414 Northland DR
Big Rapids, MI 49307,18414 Northland DR
Big Rapids, MI 49307,18414 Northland DR
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Joe Mullaney

Joe Mullaney

+1(517) 204-4004
Listed by Berkshire Hathaway HomeServices
$ 1,425,000
Est. payment /mo
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Active

18414 Northland DR Big Rapids, MI 49307

1.75 Acres Lot

UPDATED:

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

Acres 1.75

Lot Dimensions 1.75+/- Acres

Property Sub-Type Commercial Sale

Source Greater Lansing Association of REALTORS®

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

Direction From Ferris State University (3.8 miles) head north on US-131 Business/Northland Drive for 3.6 miles and the store will be on your right. From US-131 take Exit 142 for 19 Mile Rd and head east for 1.2 miles then turn right on Northland Drive. The store will be on your left.

Rooms

Basement Daylight, Finished, Full

Interior

Heating Forced Air

Cooling Central Air, Other

Appliance None

Laundry None

Exterior

Parking Features Parking Lot, Concrete

Utilities Available Water Available, Sewer Available, Electricity Available

View Y/N No

Roof Type Flat,Steel

Total Parking Spaces 43

Building

Lot Description City Lot, Corner Lot

Story 1

Lot Size Range 1.75

Sewer Public Sewer

New Construction true

Schools

High Schools Big Rapids

School District Big Rapids

Others

Tax ID 5401-034-018-610

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Joe Mullaney

Joe Mullaney

Broker Associate | License ID: mm.mullajos

+1(517) 204-4004

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