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596 W Main St 9,014 SF Retail Building Marcellus, MI 49067 $1,130,112 CAD ($125.37 CAD/SF) 9.22% Cap Rate
Investment Highlights
- All options exercised, placing the next renewal negotiation with the incoming owner
- Positioned on a hard corner offering excellent visibility and traffic flow
- Built in 2005 and remodeled in 2018
- 9,014 SF store situated on an oversized 1.53-acre lot
- 21,000 residents within a 10-mile radius
Executive Summary
The NN lease runs through September 30, 2030, with roughly four years remaining. The tenant covers taxes, insurance, snow removal, and a fixed CAM allowance, while ownership maintains structure, roof, and HVAC replacement. Rent has stepped up 10% at every five-year interval and the tenant has exercised all three options at the full contractual increase, producing $73,788 in current NOI.
The hard corner delivers strong visibility and easy access along W Main Street at 4,737 vehicles per day, with parking well in excess of what the store requires and surplus land for future flexibility. It is the only Dollar General in Marcellus and ranks in the 86th percentile statewide. Portage sits 23 miles north in the Kalamazoo MSA, and a local economy spanning agriculture, manufacturing, healthcare, and education supports steady necessity driven demand.
Data Room Click Here to Access
Property Facts
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Jan 0000
Dollar General began in 1939 as J.L. Turner and Son Wholesale Company, a dry-goods business started by J.L. Turner and Cal Turner Sr., and the first Dollar General store opened in the mid-1950s. The company operates a discount retail model through Dollar General, DG Market, DGX, and pOpshelf formats, serving customers with food, health and wellness products, cleaning and laundry supplies, self-care and beauty items, seasonal décor, private brands, and national labels. Dollar General supports online shopping and positions itself around affordable everyday goods and community-focused services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | 99,999 SF | - | Jan 0000 |
Property Taxes
| Parcel Number | 14-051-616-004-20 | Improvements Assessment | $238,454 CAD |
| Land Assessment | $20,483 CAD | Total Assessment | $258,937 CAD |
Property Taxes
Presented by
596 W Main St
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