Listing Agency: Encore Real Estate Investment Services r***@encorereis.com Show Phone

Listed By: Deno Bistolarides · License #6502378067

Source: Crexi

Added: Apr 12 Changed: Aug 29 Last Checked: Aug 29 at 3:11PM

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Investment Insights

Based on property information with market context.

This retail property is occupied by corporate Verizon Wireless. The tenant has recently exercised a five-year lease renewal option, providing a documented lease term within the existing tenancy.

Key Highlights

• Corporate Verizon Wireless tenancy
• Recently exercised 5 year lease renewal option

Property Analytics

Property Profile

Current Use

Retail space

Suggested Use

Top Pick Pharmacy Electrical Service Spa & Massage Center Kitchen & Bath Showroom Restaurant Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

145

Businesses Nearby

2k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 87% Home Improvements & Furnishings 13%

Marathon Petroleum Shops & Services

2,001 visits/mo 0.3 miles

Fastenal Home Improvements & Furnishings

306 visits/mo 0.3 miles

Demographics for 49707, MI

22,243

Population

11,974

Households

1.9

Avg Household Size

48

Median Age

19%

College-Educated

94%

High-School Grad

215.4 sq mi

ZIP Area

103

Density / Sq Mi

$50,699

Median Household Income

$32,208

Median Earnings

$642

Median Rent

$134,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Retail space - Corporate retail tenancy includes a recently exercised five-year lease renewal option.

Where is this retail space located?

The property is located at 2389 US-23 Alpena, MI.

What are key features of this property?

This property features: Corporate Verizon Wireless tenancy; Recently exercised 5 year lease renewal option