Manton Retail for Sale
14.25 YEAR CORPORATE NNN LEASE WITH RENT INCREASES IN INITIAL TERM
• Subject Property has 14.25 years left of a 15-year corporate guaranteed NNN lease with Dollar General with 5% rent increases every 5 years.
• Tenant is 100% responsible for all expenses including parking lot, taxes, insurance, roof and structure.
• There are 5% rent increases in each of the five, 5-year option periods.
LOW RENT & PRICE POINT
• This Dollar General has a low rent of $108,316 which equates to a low price point of $1,642,000.
NEW CONSTRUCTION 10,640 SF DOLLAR GENERAL
• 10,640 SF upgraded construction Dollar General Market located in Manton, MI.
• The subject property is open and rent commenced in March 2024.
NEAR CADILLAC | 2ND MOST POPULATED CITY IN NORTHERN MICHIGAN
• Cadillac is 12 minutes south of Manton and is the 2nd most populated city in Northern Michigan.
• Home to Baker College of Cadillac (1,340 students), a private, non-profit institution offering a range of associate and bachelor’s degree programs.
• National Retail in Cadillac includes Walmart, Home Depot, ALDI, Dollar Tree, Meijer, Tractor Supply, Hobby Lobby, TJ-Maxx, Save-a-lot, Harbor Freight, and more.
• Manufacturing is a significant sector in Cadillac, Michigan, employing over 26% of the city’s labor force. Notable companies include Avon Automotive, Cadillac Area Public Schools, and Four Winns/ Glastron/Wellcraft/Rec Boat, each employing between 500 and 999 individuals.
• In 2023 tourists spent $1.09 billion on lodging, food and beverage, retail, recreation, and transportation in the Northwest Michigan region.
INVESTMENT GRADE TENANT (S&P: BBB) WITH 21,000 LOCATIONS
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Currently over 21,000 locations and plans to open 750 stores in 2025.
• Dollar General has been in business for 80 years and has a current net worth of over $18.16
