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Additional details
$ 2,050,000
Est. payment /mo
Active
5018 N US 23 HWY Oscoda, MI 48750
10,004 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 10,004 sqft
Price per Sqft $204
MLS Listing ID 20240069805
Year Built 2024
Lot Size 0.690 Acres
Property Sub-Type RealEstateOnly
Property Description
Fantastic investment opportunity with a newly built retail shopping center leased to a single-tenant Dollar Tree at 5018 N US-23, Oscoda, MI 48750. Completed in 2024, this property is strategically located along the high-traffic US-23 corridor in Oscoda Township, offering excellent visibility.
The Dollar Tree is secured under a 10-year NN (Double Net) lease, starting October 31, 2024, to November 1, 2034, featuring $0.50 rent bumps every 5 years. There are three 5-year renewal options with the same rent bumps, ensuring stable and growing income. The property delivers a Net Operating Income (NOI) of $132,500 annually with a 6.75% cap rate, providing a solid return for investors.
Set on a 0.69-acre lot, the property includes 32 parking spaces, supporting high customer traffic. The building's modern design enhances retail success, and its prime location in a growing market area adds further value. The property is connected to public sewer, has paved road frontage, and is free of encroachments, making it a hassle-free investment.
With strong lease terms, a reputable national tenant, and minimal landlord responsibilities, this single-tenant retail center offers reliable cash flows and future growth potential. Don't miss this chance to own a newly built, high-demand retail property with a secure, long-term lease.
The Dollar Tree is secured under a 10-year NN (Double Net) lease, starting October 31, 2024, to November 1, 2034, featuring $0.50 rent bumps every 5 years. There are three 5-year renewal options with the same rent bumps, ensuring stable and growing income. The property delivers a Net Operating Income (NOI) of $132,500 annually with a 6.75% cap rate, providing a solid return for investors.
Set on a 0.69-acre lot, the property includes 32 parking spaces, supporting high customer traffic. The building's modern design enhances retail success, and its prime location in a growing market area adds further value. The property is connected to public sewer, has paved road frontage, and is free of encroachments, making it a hassle-free investment.
With strong lease terms, a reputable national tenant, and minimal landlord responsibilities, this single-tenant retail center offers reliable cash flows and future growth potential. Don't miss this chance to own a newly built, high-demand retail property with a secure, long-term lease.
Location
State MI
County Iosco
Area Area35021Oscodatwp
Interior
Heating ForcedAir, NaturalGas
Cooling CentralAir
Exterior
Parking Features ParkingLot, OnSite
Utilities Available AboveGroundUtilities
View Y/N No
Roof Type Metal
Building
Foundation Slab
Sewer PublicSewer
Water Public
New Construction No
Schools
School District Oscoda
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by William Whitehouse of Berkshire Hathaway HomeServices Kee Realty Bham