Admiral Petroleum Gas
New
For Sale
$1,095,465
1425 W Caro Rd, Caro, MI 48723
This Michigan asset can be acquired on its own or as part of a multi-property portfolio.
Property Size9,000 SF
Price / SF$121.72
Days on Market3
Property Features for 1425 W Caro Rd
General Information
Standard status
Active
Size
9,000 SF
Property subtype
Auto Service - Gas-Conv
Lease Type
NNN
Amenities
Long Term Lease | Current Term Runs Through May 2036
Four, Five Year Renewal Options | Built-In Annual Rent Increases
Can be Purchased as an Individual Property or as Part of a Portfolio
Building Details
Building Size
9,000 SF
Listed By:
Timothy Nichols · License #License(s): IL: 475.159619
(630) 570-2183
Source:
Marcusmillichap
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 11 at 2:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Timothy Nichols
Investment Insights
Based on property information with market context.
The property is a gas station associated with the Admiral Petroleum portfolio, located at 1425 W Caro Rd in Caro, Michigan.
The broader offering comprises 30 properties: 29 in Michigan and one in Indiana. Properties may be purchased individually or as part of a larger package.
The broader offering comprises 30 properties: 29 in Michigan and one in Indiana. Properties may be purchased individually or as part of a larger package.
Key Highlights
- Located at 1425 W Caro Rd, Caro, MI 48723
- One of 30 properties in a portfolio spanning Michigan and Indiana
- Available individually or as part of a larger package
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,101
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,002,020
$2.0M
Cap Rate 7%
$1,430,014
$1.4M
Cap Rate 9%
$1,112,233
$1.1M
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$139.3K $15.48/SF
− Vacancy
−$5.9K −$0.65/SF
EGI
$133.5K $14.83/SF
− OpEx
−$33.4K −$3.71/SF
NOI
$100.1K $11.12/SF
Area
Tuscola County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,002,020
Cap Rate 7%
$1,430,014
Cap Rate 9%
$1,112,233
Alternative Uses
Best Use
Industrial
$1.88M
$1.64M – $2.19M
NOI $131,338 @ 7.0% cap · market cap 11.99%
Second Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,101 @ 7.0% cap · market cap 9.14%
Theoretical Best
Multifamily LT 5
$6.53M
$5.71M – $7.61M
NOI $456,867 @ 7.0% cap · market cap 41.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
42k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Groceries 29%
Apparel 13%
Home Improvements & Furnishings 1%
Ollie's Bargain Outlet
Shops & Services
16,908 visits/mo
0.2 miles
VG's Grocery
Groceries
12,102 visits/mo
0.2 miles
Goodwill
Apparel
5,546 visits/mo
0.2 miles
Independent Bank
Shops & Services
3,470 visits/mo
0.5 miles
Moore Motor Sales
Shops & Services
1,635 visits/mo
0.3 miles
Demographics for 48723, MI
11,953
Population
5,175
Households
2.3
Avg Household Size
45
Median Age
18%
College-Educated
91%
High-School Grad
131.8 sq mi
ZIP Area
91
Density / Sq Mi
$56,618
Median Household Income
$40,543
Median Earnings
$737
Median Rent
$131,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - This Michigan asset can be acquired on its own or as part of a multi-property portfolio.
Where is this gas station located?
The property is located at 1425 W Caro Rd Caro, MI.
What is the asking price?
The asking price for this property is $1,095,465.
What are key features of this property?
This property features: Located at 1425 W Caro Rd, Caro, MI 48723; One of 30 properties in a portfolio spanning Michigan and Indiana; Available individually or as part of a larger package
