Homes for sale - 5018 N US 23 Highway, Oscoda, MI 48750

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Crystal Hallack

crystal@yourlakemichiganhome.com +1(231) 955-7355

$2,050,000

Est. payment - /mo

10,004 SqFt

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 10,004 sqft

Price per Sqft $204

Municipality Oscoda Twp

Subdivision Oscoda Twp

MLS Listing ID 20240069805

Originating Board Realcomp

Year Built 2024

Annual Tax Amount $6,214

Lot Size 0.690 Acres

Acres 0.69

Lot Dimensions 155x154x193x199

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

Zoning Commercial

Direction On the east side of US-23 Highway, north of W Michigan Avenue

Interior

Heating Forced Air

Exterior

View Y/N No

Roof Type Metal

Building

Building Description Brick,Metal Siding, Security System

Foundation Slab

Sewer Public

Water Public

Structure Type Brick,Metal Siding

Schools

School District Oscoda

Others

Tax ID 06303440001400

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Listed by Berkshire Hathaway HomeServices Kee Realty Bham

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Crystal Hallack

+1(231) 955-7355

Team Leader | License ID: 6501381439

Team Leader License ID: 6501381439

5018 N US 23 Highway Oscoda, MI 48750

Crystal Hallack

Key Details

Location

Interior

Exterior

Building

Schools

Others

5018 N US 23 Highway