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$2,050,000
Est. payment /mo
10,004 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 10,004 sqft
Price per Sqft $204
Municipality Oscoda Twp
Subdivision Oscoda Twp
MLS Listing ID 20240069805
Year Built 2024
Annual Tax Amount $6,214
Lot Size 0.690 Acres
Acres 0.69
Lot Dimensions 155x154x193x199
Source Realcomp
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 6.75% 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
Zoning Commercial
Direction On the east side of US-23 Highway, north of W Michigan Avenue
Interior
Heating Forced Air
Exterior
View Y/N No
Roof Type Metal
Building
Foundation Slab
Sewer Public
Water Public
Structure Type Brick,Metal Siding
Schools
School District Oscoda
Others
Tax ID 06303440001400
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Listed by Berkshire Hathaway HomeServices Kee Realty Bham