5018 N US 23 HWY Active Save Request In-Person Tour Request Virtual Tour
Oscoda,MI 48750
Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 10,004 sqft
Price per Sqft $204
MLS Listing ID 20240069805
Year Built 2024
Property Sub-Type RealEstateOnly
Property Description
Fantastic investment opportunity with a newly built retail shopping center leased to a single-tenant Dollar Tree at 5018 N US-23, Oscoda, MI 48750. Completed in 2024, this property is strategically located along the high-traffic US-23 corridor in Oscoda Township, offering excellent visibility.
The Dollar Tree is secured under a 10-year NN (Double Net) lease, starting October 31, 2024, to November 1, 2034, featuring $0.50 rent bumps every 5 years. There are three 5-year renewal options with the same rent bumps, ensuring stable and growing income. The property delivers a Net Operating Income (NOI) of $132,500 annually with a 6.75% cap rate, providing a solid return for investors.
Set on a 0.69-acre lot, the property includes 32 parking spaces, supporting high customer traffic. The building's modern design enhances retail success, and its prime location in a growing market area adds further value. The property is connected to public sewer, has paved road frontage, and is free of encroachments, making it a hassle-free investment.
With strong lease terms, a reputable national tenant, and minimal landlord responsibilities, this single-tenant retail center offers reliable cash flows and future growth potential. Don't miss this chance to own a newly built, high-demand retail property with a secure, long-term lease.
Location
State MI
County Iosco
Area Area35021Oscodatwp
Interior
Heating ForcedAir, NaturalGas
Cooling CentralAir
Exterior
Parking Features ParkingLot,OnSite
Utilities Available AboveGroundUtilities
View Y/N No
Roof Type Metal
Building
Foundation Slab
Sewer PublicSewer
Water Public
Schools
School District Oscoda
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard