18414 Northland Drive, Big Rapids MI 49307 (Off Market)

For Sale, USD 1,425,000


18414 Northland Drive, Big Rapids MI 49307,

Property Type : Commercial

Property Style : N/A

Build Size : 10,760 ft² / 1,000 m²

Land Size : N/A

Bedroom : 0

Bathroom : 0

Half Bathroom : 0

MLS#: N/A


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.
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18414 Northland Drive, Big Rapids MI 49307, United States,Michigan,Big Rapids is a 10,760ft² Big Rapids luxury Commercial listed for sale USD 1,425,000. This high end Big Rapids Commercial is comprised of 0 bedrooms and 0 baths. Find more luxury properties in Big Rapids or search for luxury properties for sale in Big Rapids.