Tractor Supply-Leased Retail
2201 N US Hwy 31 Petoskey, MI 49770
New
2201 N US Hwy 31, Petoskey, MI, 49770
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For Sale
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Retail storefront on US-31 leased to Tractor Supply Company, operated at the site since 2011.
Property Size19,532 SF
Price / SF$255.23
Days on Market6
Property Features for 2201 N US Hwy 31
General Information
- Standard status
- Active
- Size
- 19,532 SF
- Property subtype
- RETAIL
Listing agency
Matthews Real Estate Investment Services
(949) 662-2252
Listed by
Chad Kurz · License #01911198(CA)
(949) 662-2252
Source
Moodyscre
Added: Jul 17 Updated: Jul 21 at 3:02AM Checked: Jul 21 at 3:02AM
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 Matthews Real Estate Investment Services
Investment Insights
Based on property information with market context.
This retail storefront is leased to Tractor Supply Company and has been operated at the site since 2011. The property includes a long-term tenant commitment evidenced by an early lease extension for an additional 10 years.
The property is strategically positioned along US-31, described as the primary commercial corridor serving Petoskey and surrounding Northern Michigan communities, with downtown access and strong year-round consumer demand.
As a Tractor Supply location, the site aligns with the company’s focus on essential products for rural and lifestyle retail needs, including pet supplies, livestock feed, outdoor power equipment, home improvement, and agricultural products.
The property is strategically positioned along US-31, described as the primary commercial corridor serving Petoskey and surrounding Northern Michigan communities, with downtown access and strong year-round consumer demand.
As a Tractor Supply location, the site aligns with the company’s focus on essential products for rural and lifestyle retail needs, including pet supplies, livestock feed, outdoor power equipment, home improvement, and agricultural products.
Key Highlights
- Retail storefront on US‑31, the primary commercial corridor serving Petoskey and surrounding Northern Michigan communities
- Leased to Tractor Supply Company; tenant operates more than 2,500 locations nationwide
- Tractor Supply operates at this site since 2011 and recently extended the lease early for an additional 10 years
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $302.4k | $15.48 |
| − Vacancy | −$12.7k | −$0.65 |
| EGI | $289.7k | $14.83 |
| − OpEx | −$86.9k | −$4.45 |
| NOI | $202.8k | $10.38 |
19,532 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.90M
$2.53M – $3.38M
NOI $202,760 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.42M
$3.87M – $5.16M
NOI $309,419 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail storefront on US-31 leased to Tractor Supply Company, operated at the site since 2011.
Where is this retail space located?
The property is located at 2201 N US Hwy 31 Petoskey, MI.
What is the asking price?
The asking price for this property is $4,985,222.
What are key features of this property?
This property features: Retail storefront on US‑31, the primary commercial corridor serving Petoskey and surrounding Northern Michigan communities; Leased to Tractor Supply Company; tenant operates more than 2,500 locations nationwide; Tractor Supply operates at this site since 2011 and recently extended the lease early for an additional 10 years
