Current Use by Public Records
- Five Guys / Restaurant / Take-out & Catering
Property Details for 1384 Main St
- Year built
- 2016
- Lot size
- 1.48 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This fee-simple retail property in Gaylord, Michigan, offers a compelling value-add opportunity. The 13,230 square foot building, constructed in 2016, sits on a 1.48-acre lot (APN: 101-032-000-025-06) and is zoned C-2 Central Commercial District. Currently 53% occupied, the property boasts a strong tenant lineup including Five Guys, Great Clips, and Tropical Smoothie. The building enjoys excellent visibility and access on W. Main Street, a major retail thoroughfare with 28,900 vehicles passing daily. Its strategic location is adjacent to ALDI and Panera Bread, and within two miles of numerous national retailers including Walmart, Home Depot, Lowe's, Kohl's, Hobby Lobby, Meijer, Menards, and Walgreens. The property benefits from proximity to Interstate 75 and Gaylord Regional Airport, ensuring a substantial consumer base. The surrounding area features a dense residential population exceeding 13,500 residents and 12,100 employees within a 5-mile radius, boasting an average household income of $85,425. The current Net Operating Income (NOI) is $159,613, with an asking price of $2,600,000. The property presents significant potential for increased income through lease-up of vacant spaces and market-rate rent adjustments. This investment offers strong tenant synergy and excellent visibility in a thriving retail corridor.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gaylord
- County
- Otsego
- State
- Michigan
- Longitude
- -84.6987
- Latitude
- 45.0281
