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.
General Information
Sale Price: $2,050,000
Price/SqFt: $205
Status: Active
MLS#: rcomi20240069805
Originating MLS: Realcomp2
City: oscoda twp
Post Office: oscoda
Schools: oscoda
County: Iosco
Acres: 0.69
Lot Dimensions: 155x154x193x199
Size: 10,004 sq.ft.
Acreage: 0.69 est.
Year Built: 2024
Property Type: Commercial
Style:
Tax, Fees & Legal
Est. Summer Taxes: $4,343 Est. Winter Taxes: $1,871
