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Family Dollar 216 M-35 9,180 SF Retail Building Gwinn, MI 49841 $1,218,930 ($132.78/SF) 8.50% Cap Rate
Investment Highlights
- Prominent M-35 Frontage with Strong Visibility.
- Essential Retailer Servicing a Rural Trade Area.
- Upper Peninsula Location with Outdoor Recreation Demand.
- Recently acquired by a private equity group and currently undergoing a nationwide store reinvestment program.
Executive Summary
Northmarq is pleased to present Family Dollar, a 9,180 SF asset located at 234 M-35, Gwinn, MI 49841. The property is offered at $1,218,930, representing a 8.50% cap rate on current NOI of $103,609. The asset is leased to Family Dollar with 4+ years of term remaining. The property benefits from strong highway frontage, upper peninsula location and being an essential retailer in a rural trade area.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
9,180 SF
Building Class
C
Year Built
2015
Price
$1,218,930
Price Per SF
$132.78
Cap Rate
8.50%
NOI
$103,609
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.38 AC
Zoning
MU - Commercial
Somewhat walkable
30/100
Exceptionally drivable
100/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 52-05-122-032-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $203,500 |
Property Taxes
Parcel Number
52-05-122-032-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$203,500
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Family Dollar | 216 M-35
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