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1369 Division St 101,287 SF 100% Leased Retail Building Adrian, MI 49221 $14,753,479 CAD ($145.66 CAD/SF) 6.15% Cap Rate
EXECUTIVE SUMMARY
Atlantic Capital Partners is pleased to exclusively
offer the opportunity to acquire a freestanding
Lowe’s Home Improvement located at 1369 Division
Street in Adrian, MI. The property is leased to Lowe’s
under a long-term NN lease with more than 15 years
of remaining primary term. The lease includes six (6)
five-year renewal options with rental escalations,
providing investors with durable income growth
backed by an investment-grade guarantor.
Strategically positioned within Adrian’s dominant
retail corridor, the property benefits from proximity
to Walmart Supercenter, Meijer, Menards, Hobby
Lobby, and other national retailers that draw
consistent regional traffic. Adrian, serves as
the area’s economic hub and is supported by
institutions such as Adrian College, Siena Heights
University, and ProMedica Charles & Virginia
Hickman Hospital. With a regional population
base exceeding 90,000 residents, the Lowe’s
location serves as the primary home improvement
destination for the trade area. The combination
of a nationally recognized credit tenant, a large
land parcel exceeding 18 acres, and strategic
positioning in the Adrian MSA makes this offering a
rare opportunity to acquire a secure, long-term net
lease asset in a stable Michigan market.
offer the opportunity to acquire a freestanding
Lowe’s Home Improvement located at 1369 Division
Street in Adrian, MI. The property is leased to Lowe’s
under a long-term NN lease with more than 15 years
of remaining primary term. The lease includes six (6)
five-year renewal options with rental escalations,
providing investors with durable income growth
backed by an investment-grade guarantor.
Strategically positioned within Adrian’s dominant
retail corridor, the property benefits from proximity
to Walmart Supercenter, Meijer, Menards, Hobby
Lobby, and other national retailers that draw
consistent regional traffic. Adrian, serves as
the area’s economic hub and is supported by
institutions such as Adrian College, Siena Heights
University, and ProMedica Charles & Virginia
Hickman Hospital. With a regional population
base exceeding 90,000 residents, the Lowe’s
location serves as the primary home improvement
destination for the trade area. The combination
of a nationally recognized credit tenant, a large
land parcel exceeding 18 acres, and strategic
positioning in the Adrian MSA makes this offering a
rare opportunity to acquire a secure, long-term net
lease asset in a stable Michigan market.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
101,287 SF
Building Class
C
Year Built
1996
Price
$14,753,479 CAD
Price Per SF
$145.66 CAD
Cap Rate
6.15%
NOI
$907,339 CAD
Percent Leased
100%
Building Height
1 Story
Loading Docks
4 Exterior
Building FAR
0.15
Lot Size
15.05 AC
Opportunity Zone
Yes
Zoning
CM
Parking
651 Spaces (6.02 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- -
- $8.96 CAD
- Triple Net
- Aug 2041
Lowe’s has grown from a small-town hardware store in North Carolina to one of the largest home improvement retailers in the world. They have a rich heritage of putting the people they serve at the heart of everything they do. The people they serve are at the heart of everything they do. Their associates have deep home improvement experience and training, and can give them the expert advice they need to do their project right. From urgent repairs to their dream remodel, they designed their business to be there when they need them most.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | - | $8.96 CAD | Triple Net | Aug 2041 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | XA0-100-0336-02 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $3,764,454 CAD |
PROPERTY TAXES
Parcel Number
XA0-100-0336-02
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$3,764,454 CAD
CONTACTS
-
David Hoppe -
Danny Griffin -
Eric Suffoletto -
Ben Olmstead -
Kendra Doherty -
Atlantic Capital Partners
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1369 Division St
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