615 State St, Caro, MI 48723

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.