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1125 M 32 W 5,092 SF 100% Leased Retail Building Alpena, MI 49707 $4,000,000 ($785.55/SF) 5.28% Cap Rate
Executive Summary
-Excellent opportunity with reliable cap rate.
-2022 Construction, 100% occupied by Starbucks and WellNow Urgent Care. Both tenants are operating on ten-year, corporate guaranteed 10 year leases through 2032.
-Property is surrounded by national retail chains in a high visibility area with 23,400 residents located within 10 miles, and an estimated 17,000 cars per day passing by on M-32.
-2022 Construction, 100% occupied by Starbucks and WellNow Urgent Care. Both tenants are operating on ten-year, corporate guaranteed 10 year leases through 2032.
-Property is surrounded by national retail chains in a high visibility area with 23,400 residents located within 10 miles, and an estimated 17,000 cars per day passing by on M-32.
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
5,092 SF
Building Class
A
Year Built
2022
Price
$4,000,000
Price Per SF
$785.55
Cap Rate
5.28%
NOI
$211,200
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.09
Lot Size
1.37 AC
Zoning
Commercial - Commercial use
Bike Score®
Very Bikeable (74)
Nearby Major Retailers
Property Taxes
| Parcel Number | 012-029-000-021-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $667,100 |
Property Taxes
Parcel Number
012-029-000-021-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$667,100
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Presented by
On Point Realty Group, LLC
1125 M 32 W
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