This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Value Add Multi-Tenant Retail | Adj to Aldi 1384 W Main St

13,230 SF 53% Leased Retail Building Gaylord, MI 49735 £2,034,370 (£154/SF) 6.14% Net Initial Yield

Investment Highlights

  • Strong Tenant Lineup & Synergy | Options To Extend | Value-Add Opportunity
  • Excellent Visibility & Access | Retail Thoroughfare (28,900 VPD) | Dense Retail Corridor | Adjacent To ALDI & Panera Bread

Executive Summary

SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a multi-tenant retail building investment property located in Gaylord, Michigan. The offering features a strong tenant lineup including Five Guys, Wild Bills, Great Clips, and Tropical Smoothie Cafe. The concentration of retailers promotes strong tenant synergy and increases crossover retail exposure to the overall site. The center is 53% leased, providing a great value-add opportunity for a future owner to leaseup the vacancies and capitalizing on the potential income stream from raising existing tenants’ rent to market rate.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,230 SF
Year Built
2016
Price
£2,034,370
Price Per SF
£154
Net Initial Yield
6.14%
NOI
£124,889
Percent Leased
53%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.21
Land Acres
1.48 AC
Opportunity Zone
Yes
Zoning
C-2 - Central Commercial District
Parking
36 Spaces

Amenities

  • Corner Lot
  • Dedicated Turn Lane
  • Freeway Visibility
  • Restaurant
  • Signage

Nearby Major Retailers

Big Boy
Five Guys Burgers & Fries
Applebee's
Tim Hortons
BIGGBY Coffee
ALDI
Starbucks
Powerhouse Gym
Bob Evans Restaurants
Family Fare Supermarket

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
101-032-000-025-06
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£438,720
  • Listing ID: 33362967

  • Date on Market: 01/10/2024

  • Last Updated:

  • Address: 1384 W Main St, Gaylord, MI 49735

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}