5018 Us 23 Oscoda, MI 48750
- Industrial properties
- 10,004 SF
- 0.69 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 5018 Us 23
- Year built
- 1920
- Lot size
- 0.69 lot acres
- Property size
- 10,004 SF
- Property type
- Industrial properties
Description
This exceptional investment opportunity presents a newly constructed, 10,004 square foot retail building situated on a 0.69-acre lot in Oscoda, Michigan. Strategically located on the high-traffic US-23 corridor, this property boasts excellent visibility and is currently leased to a Dollar Tree under a 10-year Net-Net (NN) lease commencing October 31, 2024, and extending to November 1, 2034. The lease includes three 5-year renewal options, each with a $0.50 per square foot rent increase. This results in a substantial annual Net Operating Income (NOI) of $132,500, translating to a 6.75% capitalization rate. The property features 32 parking spaces, ensuring ample customer convenience. Built in 2024, the modern design optimizes retail functionality. The property benefits from public sewer access, paved road frontage, and is free from encroachments. This single-tenant retail center offers a secure, long-term lease with a nationally recognized tenant, minimizing landlord responsibilities and maximizing reliable cash flow and future growth potential. The property's prime location in a growing market further enhances its investment appeal.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oscoda
- County
- Iosco
- State
- Michigan
- Longitude
- -83.3299
- Latitude
- 44.4261
