Midwest Developer Sells Four Dollar General Properties For $8.3 Million In Michigan
10464 Old 27 South, 830 South Chestnut Street, 2463 North Marshall Road & 400 East Main Street
$8,300,000
Building Size
—
Asset Type
Retail
Closing
Oct 8, 2026
About this deal
AI
A four-property, single-tenant Dollar General portfolio was sold for $8,300,000. The properties are located at 10464 Old 27 South, 830 South Chestnut Street, 2463 North Marshall Road, and 400 East Main Street, situated in the markets of Gaylord, Reed City, Honor, and Vermontville, Michigan. Each location is leased to Dollar General under absolute triple-net leases with 5% rent escalations every five years and corporate guarantees from Dollar General Corp.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,300,000
- Sale Date: 10/08/2026
- Addresses: 10464 Old 27 South, 830 South Chestnut Street, 2463 North Marshall Road, 400 East Main Street
- Market: Gaylord, Reed City, Honor, Vermontville, MI
- Brokers: Randy Blankstein, Jimmy Goodman & John Feeney - The Boulder Group
The Boulder Group facilitated the transaction, representing a Midwest-based developer in the sale to a Northeast investment fund. The portfolio's structure and lease arrangements underline the stability of the investment, making it an attractive option for the purchaser.
On the Map
$8,300,000
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.91%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93