Dollar General - Scottville

Retail-Commercial for Sale
Catylist Listing ID: 30048670
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 9,014 SF
Gross Land Area: 1.63 Acres
Sale Price: $900,000
Unit Price: $99.84 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Dollar General - Scottville, MI
Usable Size (USF): 9,014 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 9/24/2020

Overview / Comments

SVN / Investment Property Advisors is pleased to offer this NN+ 15 year leased
Dollar General on a Main Street location. 4+ years left on base lease term with a
10% rent bump for 1st 5 year renewal option. Healthy sales volume store with no
other $ stores in town (Several miles away).

Built to Suit for Dollar General
Main Street Location
Fortune 150 Investment Grade Tenant
4+ Years Left on 15 Year Base Lease
Corporate Guarantee - Strong BBB Credit Rating
10% Rent Increase with 2024 Optional Renewal
Dollar General is an "Essential" Retailer with Record Growth
Tenant Website: www.DollarGeneral.com

Current Tenants

Tenant Business Name Dollar General
Contact Name NYSE: DG
Website URL dollargeneral.com
Industry Type Retail Trade
Is Renting? Yes
Employees Total 100,000
Employees at Location 10
Year Founded 1939
SF of Space Occupied 9,014 SF
Tenant Business Name Dollar General
Website URL dollargeneral.com
Industry Type Retail Trade
Employees Total 100,000
Employees at Location 10
Tenant Business Name Dollar General
Website URL dollargeneral.com
Industry Type Retail Trade
Is Renting? Yes
Employees Total 100,000
Employees at Location 10
Year Founded 1939
Suite Number 1
SF of Space Occupied 9,014 SF
Current Rent $68,200 PSF (Annual)
Escalations 3% Year 11
Options Multiple 5 year renewals with 10% rent increases for each

Additional Details

Nearest MSA: Ludington
County: Mason
Taxing Authority: City of Scottville
Tax ID/APN: 53-052-101-007-00
Zoning: COMMERCIAL
Retail Clientele: General, Family, Traveler, Tourist, Recreation
Property Located Between: Just off Route 10 Near US 31
Property Visibility: Excellent
Largest Nearby Street: US 31 & Route 10
Feet of Frontage: 205
Highway Access: US 31 just West and Route 10 just North
Site Description: Located immediately south of downtown Scottville on Main St between 1st & 2nd streets. Newer 2009 construction with ample parking and next to Post Office.
Area Description: Scottville is inland several miles from Ludington which is on the lakeshore of Lake Michigan and home to the Big Lake ferry the Badger. It is along the primary North/South lakeshore route of US 31/Route 10 with many tourists and recreational visitors.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 9,014 SF
Property Condition: Good
Year Built: 2009
Roof Type: Gable
Construction/Siding: Metal Siding
Total Parking Spaces: 35
Parking Ratio: 3.7 (per 1000 SF)
Parking Type: Surface
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: Commercial
Lot Frontage: 205
Lot Depth: 300
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 3,541 6,804
Median Age: 42.78 42.25
Households: 1,374 2,699
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