5018 Us-23 Oscoda, MI 48750
- Lifestyle centers
- 10,004 SF
- 0.69 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 5018 Us-23
- Year built
- 2024
- Lot size
- 0.69 lot acres
- Property size
- 10,004 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Exceptional investment opportunity: a 10,004-square-foot shopping center in Oscoda, Michigan, situated on a 0.69-acre lot at 5018 N US-23. This newly constructed property, boasting 32 parking spaces, is currently under construction with an occupancy date of October 31, 2024. The property features a 10-year net-net lease with a tenant, generating a substantial annual net operating income (NOI) of $132,500, representing a compelling 6.49% capitalization rate. The lease includes three to five-year renewal options, with rent increases of $0.50 per square foot every five years, ensuring consistent and growing income. The asking price is $2,050,000. This property presents a rare chance to acquire a stable, high-performing retail investment in a desirable location next to McDonald's. The building is scheduled for completion in July 1, 2024. This is a net lease investment opportunity with a strong tenant and a long-term lease. The property is located in Iosco County, Michigan, with a zip code of 48750.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oscoda
- County
- Iosco
- State
- Michigan
- Longitude
- -83.3299
- Latitude
- 44.4261
