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$ 2,050,000
Est. payment | /mo
10,004 SqFt
$ 2,050,000
Est. payment | /mo
10,004 SqFt
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 10,004 sqft
Price per Sqft $204
Subdivision Mi
MLS Listing ID 60340171
Annual Tax Amount $6,214
Lot Size 0.690 Acres
Acres 0.69
Lot Dimensions 155x154x193x199
Property Description
Fantastic investment opportunity with a newly built retail shopping center leased to a single-tenant Dollar Tree at 5018 N US-23, Oscoda, MI 48750. Completed in 2024, this property is strategically located along the high-traffic US-23 corridor in Oscoda Township, offering excellent visibility. The Dollar Tree is secured under a 10-year NN (Double Net) lease, starting October 31, 2024, to November 1, 2034, featuring $0.50 rent bumps every 5 years. There are three 5-year renewal options with the same rent bumps, ensuring stable and growing income. The property delivers a Net Operating Income (NOI) of $132,500 annually with a 6.49% cap rate, providing a solid return for investors. Set on a 0.69-acre lot, the property includes 32 parking spaces, supporting high customer traffic. The building’s modern design enhances retail success, and its prime location in a growing market area adds further value. The property is connected to public sewer, has paved road frontage, and is free of encroachments, making it a hassle-free investment. With strong lease terms, a reputable national tenant, and minimal landlord responsibilities, this single-tenant retail center offers reliable cash flows and future growth potential. Don’t miss this chance to own a newly built, high-demand retail property with a secure, long-term lease.
Location
State MI
County Iosco
Area Oscoda Twp (35006)
Zoning Commercial
Interior
Heating Forced Air
Exterior
Roof Type Metal
Building
Foundation Slab
Water Public Water
Structure Type Brick
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Berkshire Hathaway HomeServices Kee Realty Bham
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