January 14, 2021 – Logan Fite of Horvath & Tremblay has successfully completed the sale of Dollar General in Parma, Michigan. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $750,000.
Dollar General is located at 410 North Parma Road in Parma, Michigan. Dollar General has been at this location for more than 12 years, and recently demonstrated their commitment to the location by extending their lease term early for 9 years through October 2027. The property consists of a 9,014 square foot building on 0.68 acres of land. Dollar General has 7 years remaining on their double net (NN) lease with five, 5-Year renewal options. The lease features 10% rent increases at the start of each renewal option. Dollar General is well positioned along North Parma Road with outstanding frontage and visibility. The property is ½-mile from Interstate 94. Dollar General has strategically chosen this location as it was considered a “food desert”. Dollar General is the only national retailer of groceries and discount consumer goods serving the town of Parma and the area residents.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.