2425 S I-75 Business
Grayling, MI 49738
Tractor Supply Company · Retail Property For Sale

Kmart: 14.5% CAP | Solid Sales | Only Area Big-Box Marcus & Millichap, on behalf of ownership as its exclusive advisor, is pleased to bring to market a single tenant Kmart in Grayling, Michigan. The 52,320-square-foot building is leased through September 2018 to double-net terms. As a double-net lease, the landlord has minimal responsibilities, limited to the roof, structure, and parking lot repair and replacement. The property has upside via future re-leasing at greater than the current $4.96 per square foot rent. The tenant has occupied the site for 33 years, taking tenancy of the building in 1984. The subject property benefits from its location along Interstate 75 Business Loop, the primary corridor through town, seeing 19,606 cars per day and 28,702 at the intersection of I-75 BL and Huron Street. Demographics in this regional trade area are stable, with 6,180 residents within five miles and 11,104 residents within ten miles. Kmart benefits from minimal competition as the only big box national retailer in town. The nearest Walmart and Meijer are 35 minutes away, and the next closest Kmart is 43 minutes away.