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2520 US Highway 23 S
Alpena, MI 49707
Admiral Petroleum · Retail Property For Sale

INVESTMENT HIGHLIGHTS

  • Long-Term Original 20-Year Absolute Triple Net (NNN) Lease
  • Attractive Rental Increases of Two Percent (2.00%) Annually
  • Approximately 15.9 Years Remaining

PROPERTY FACTS

Property Type
Retail
Property Subtype
Service Station
Building Size
1,320 SF
Building Class
C
Year Built
1998
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
0.64 AC
Frontage
110’ on Route 23

ABOUT 2520 US HIGHWAY 23 S , ALPENA, MI 49707

The subject property benefits from being well-positioned in a retail corridor consisting of national and local tenants as well as landmarks, all within close proximity of this property. Major national tenants include: Peebles, JCPenney, Big Lots!, Rite Aid, Jo Ann Fabrics, Dunham’s Sports, Tractor Supply Co., Dollar Tree, as well as many more. This Admiral Petroleum also benefits from being located along Lake Huron with many great amenities available, such as beaches, marinas, and water sports. Alpena is a city in the state of Michigan and the county seat of Alpena County. It is considered to be part of northern Michigan. The Thunder Bay National Marine Sanctuary is located in the city and the population swells with a large number of visitors in the summer. Alpena is by far the largest city in the sparsely populated Northeast Michigan (lower peninsula) area, serving as its commercial and cultural hub. It is considered to be one of the two anchor cities of Northern Michigan, along with Traverse City. Access to natural resources and water transportation has been important in development of the community. Light stations and lighthouses surround Alpena. Several islands off the coast in Thunder Bay are part of the Michigan Islands National Wildlife Refuge, and Scarecrow Island is part of the Michigan Islands Wilderness Area. Alpena County Regional Airport is the northeast lower peninsula of Michigan's main commercial airport and handles daily Delta Connection flights to Detroit and Minneapolis/St. Paul operated by SkyWest Airlines. Alpena is served by the Alpena Public School System, which has a combined enrollment of approximately 4,100 students. While tourism is an important component of the area's economy, Alpena has an industrial base. It is home to LafargeHolcim cement plant and to Besser Company (maker of a concrete block making machinery), as well as a drywall board manufacturing facility owned by Decorative Panels International.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
018-103-000-141-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$135,400
  • Listing ID: 15801478

  • Date on Market: 4/22/2019

  • Last Updated:

  • Address: 2520 US Highway 23 S, Alpena, MI 49707

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