859 Edelweiss Vlg Pkwy Gaylord, MI 49735-9299

Property Details for 859 Edelweiss Vlg Pkwy

Lot size

0.77 lot acres

Property type

Commercial real estate

APN

102-120-000-001-02

APU

10212000000102

Description

This exceptional retail investment opportunity presents a 51,857 square foot multi-tenant property located at 859 Edelweiss Village Pkwy, Gaylord, MI 49735. The property, built in 2004, sits on a 12.95-acre lot (APN: 102-120-000-002-03 & 102-120-000-005-00) and features a strong tenant mix including Dollar Tree, Pet Supplies Plus, and GameStop. Currently boasting 83% occupancy and a Net Operating Income (NOI) of $815,507, this property offers a 7.75% cap rate at an asking price of $10,523,000. The property is zoned M-1 Manufacturing District and benefits from a fee simple ownership structure (land and building). Key tenants have demonstrated long-term commitment, with Dollar Tree recently extending its lease through 2034 and Pet Supplies Plus extending for five years. Over 42% of the gross leasable area is occupied by tenants with over a decade of tenure. The property's strategic location in a dense retail corridor, shadow-anchored by Walmart and Lowe's, ensures high visibility and consistent traffic. An additional outparcel leased to AT&T, situated at a signalized intersection with high daily traffic counts (28,900 vehicles), presents a value-add opportunity for lease renegotiation or re-leasing at market rates. This well-positioned retail center offers significant upside potential for a new owner to capitalize on by leasing the remaining vacancies.