5018 N US 23 Highway Oscoda Twp, MI 48750
10,004 SqFt
UPDATED:
09/17/2024 03:17 PM
Key Details
Property Type Commercial
Sub Type Real Estate Only
Listing Status Active
Purchase Type For Sale
Square Footage 10,004 sqft
Price per Sqft $204
MLS Listing ID 20240069805
Originating Board Realcomp II Ltd
Year Built 2024
Annual Tax Amount $6,214
Lot Size 0.690 Acres
Acres 0.69
Lot Dimensions 155x154x193x199
Property Description
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
Zoning Commercial
Direction On the east side of US-23 Highway, north of W Michigan Avenue
Interior
Hot Water Electric
Heating Forced Air
Heat Source Natural Gas
Exterior
Utilities Available Air Cleaner, Employee Lunch/Lounge, Intercomm, Utility Smart Meter, Energy Management System, > 440V Available, 3 Phase Power, Carbon Monoxide Alarm(s), Security Alarm, Smoke Alarm, Circuit Breakers
Waterfront no
Roof Type Metal
Accessibility Accessible Approach with Ramp
Road Frontage Class A, Paved, Highway
Building
Foundation Slab
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Level or Stories 1 Story
Structure Type Brick,Metal Siding
Schools
School District Oscoda
Others
Tax ID 06303440001400
Ownership Short Sale - No,Private Owned
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Full Service
