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Browse More Listings in Retail For Sale, Oscoda, MI or Michigan

Retail Property For Sale

"Rite Aid" | 9.00% CAP | Bring All Offers

5280 N. US Highway 23, Oscoda, MI 48750

Price:
$2,536,000
Building Size:
11,060 SF
Price/SF:
$229.29
Property Type:
Retail
Property Sub-type:
Free Standing Bldg
Additional Sub-types:
Street Retail
Retail (Other)
Property Use Type:
Net Lease Investment with 10+ years left on lease
Cap Rate:
9%
Occupancy:
100%
Tenancy:
Single
Year Built:
1998
Lot Size:
1.79 AC
Find Out More...

Last Verified 10/13/2009 Listing ID 16344428

Highlights

Delivered Free and Clear of Debt at 9.00 Percent CAP
Rite Aid Corporate Guarantee
Free Standing Corporate Prototype Store w/Drive Thru

Minimal to Zero Management (Landlord - Roof and Structure)
Two Blocks From Lake Huron Shoreline
Hard Corner Real Estate - All Frontage

Description

The subject property is a single-tenant, net-leased Rite Aid investment, which offers an investor the opportunity to own a stable and passive cash flow property with a strong corporate tenant. Comprised of 11,060 square feet on 1.79 acres of land, the property is under a 20 year corporate guaranteed NN lease (Landlord: roof - structure) with 10 years remaining and six, five year options. This 1998 construction store built to prototype specification is offered at $229/square foot to reflect a very attractive 9.00 percent cap rate.

The subject property is located in Oscoda, Michigan. Situated on U.S. Highway 23, the site is two blocks from Lake Huron. National Retailers in the immediate area include Kmart, McDonalds, Taco Bell.

Financial Summary

Actual
Net Operating Income
$228,240

Map of 5280 N. US Highway 23, Oscoda, MI 48750 (Iosco County)

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Created 8/5/2009

Additional Information for 5280 N Us Highway 23, Oscoda, MI 48750

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Retail Property For Sale - "Rite Aid" | 9.00% CAP | Bring All Offers

5280 N. US Highway 23, Oscoda, MI, 48750