615 State St Caro, MI 48723

Property Details for 615 State St

Year built

1962

Lot size

1.15 lot acres

Property size

12,846 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a fee-simple ownership of a 12,846 square foot Rite Aid property situated on a 1.15-acre lot in Caro, Michigan. Located at 615 N State St, this retail space enjoys a prime position on the city's main retail corridor, offering convenient access to Highway 24. The property is currently under a Net Lease (NNN) agreement with Rite Aid, providing a stable income stream. The lease commenced on October 31, 2024, and has a remaining term of five years, with options for lease extensions of 5-10 years. The building was constructed in 1962. The asking price for this fee-simple ownership is $700,000. It's important to note that Rite Aid currently subleases a portion of the adjacent space to an AT&T operator. This property offers a strong investment opportunity due to its location, established tenant, and long-term lease potential. The property's address is 615 N State St, Caro, MI 48723, within Tuscola County. This is a rare chance to acquire a well-positioned retail property with a dependable tenant in a desirable Michigan market. The property's zip code is 48723.

Location Insight

City

Caro

County

Tuscola

State

Michigan

Longitude

-83.3920007

Latitude

43.4929393

Property Visit Statistics

• Visits by month
  20.6k
• Visitors by month
  8.8k
• Avg Time on site
  5 min