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145 W Main St 15,840 SF 100% Leased Retail Building Gaylord, MI 49735 $2,390,034 CAD ($150.89 CAD/SF) 9% Cap Rate
Investment Highlights
- Well positioned in the heart of Downtown Gaylord, the site features plenty of parking with many restaurants and bars.
- Gaylord is a popular tourist destination and area where many people own vacation homes or rent cottages and hotels.
- Located just a few minutes away from downtown Gaylord, Lake Otsego features many vacation homes and rental properties and is a popular destination.
- The retail market in Gaylord features many big box users and national retailers that service the surrounding community within a 30 minute drive time.
- Gaylord is well known as America’s premier summer golf mecca; with 17 golf courses and 21 lodging facilities.
Executive Summary
Mid-America Real Estate - Michigan, Inc is pleased to announce an investment opportunity that is available for sale in Gaylord, Michigan. The asset is a 3 story multi-tenant and mixed-use property that has office, retail and a restaurant.
The property is well situated in the heart of Downtown Gaylord, a popular year-round destination for the local population, tourists, and people who vacation in northern Michigan. The area is home to many local restaurants as well as many national retailers along the Main Street corridor. The property has been improved each year with updates, tenant build-outs, and capital investment by the current owner.
The property is well situated in the heart of Downtown Gaylord, a popular year-round destination for the local population, tourists, and people who vacation in northern Michigan. The area is home to many local restaurants as well as many national retailers along the Main Street corridor. The property has been improved each year with updates, tenant build-outs, and capital investment by the current owner.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
15,840 SF
Building Class
B
Year Built
1984
Price
$2,390,034 CAD
Price Per SF
$150.89 CAD
Cap Rate
9%
NOI
$215,102 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.80
Lot Size
0.13 AC
Opportunity Zone
Yes
Zoning
B-1 - B-1
Parking
5 Spaces (0.31 Spaces per 1,000 SF Leased)
Frontage
66’ on W Main St.
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 101-104-000-070-02 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,373,159 CAD |
Property Taxes
Parcel Number
101-104-000-070-02
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,373,159 CAD
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145 W Main St
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