408 Maumee St Adrian, MI 49221
- Retail properties
- 19,833 SF
- 3.83 lot acres
Current Use by Public Records
- Retail properties
Property Details for 408 Maumee St
- Year built
- 1961
- Lot size
- 3.83 lot acres
- Property size
- 19,833 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 19,833-square-foot Dollar Tree storefront located at 408 W Maumee St, Adrian, MI 49221. The property sits on a substantial 3.83-acre lot and boasts a strong 8.40% cap rate, generating a net operating income (NOI) of $145,500. The building, originally constructed in 1961, underwent a complete renovation in 2023, encompassing a new roof, HVAC system, plumbing, electrical work, and parking lot. This ensures a modern and well-maintained asset for the investor. The property is zoned for commercial use and features a single-story building. The current tenant, Dollar Tree, is operating under a triple-net (NNN) lease with a remaining term of approximately 9.7 years, commencing June 1, 2024, and expiring May 31, 2034. This long-term lease provides stability and predictable cash flow. The property's significant size and prime location in Lenawee County, Michigan, offer considerable value-add potential. This is a rare opportunity to acquire a high-performing, renovated retail property with a national tenant in a desirable market. The low rent per square foot further enhances the investment's attractiveness. This turnkey investment is ideal for those seeking a stable, high-yield return with significant long-term growth potential.
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
- Adrian
- County
- Lenawee
- State
- Michigan
- Longitude
- -84.0419
- Latitude
- 41.9006
