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US LBM 1701 W South Airport Rd 194,278 SF 100% Leased Retail Building Traverse City, MI 49686 $3,888,362 CAD ($20.01 CAD/SF) 7.20% Cap Rate
Investment Highlights
- US LBM Holdings — 460+ locations nationwide, ~$6.8B in annual revenue
- One 5-year renewal option with 10% rental increase at option exercise
- Offered at 7.20% cap rate with $198,000 current annual rent
- Lease renewed through August 2031 with ~5.3 years remaining on base term
- Industrial NNN lease — tenant responsible for taxes, insurance, utilities, CAM
- Adjacent to Cherry Capital Airport; 36,800 VPD on South Airport Road
Executive Summary
Matt Fitzgerald
License # 6505432273, 6502432668 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500, Nashville, TN 37203
(866) 889-0550
License # 6505432273, 6502432668 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500, Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
194,278 SF
Building Class
C
Year Built
1977
Price
$3,888,362 CAD
Price Per SF
$20.01 CAD
Cap Rate
7.20%
NOI
$279,962 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
1.00
Lot Size
4.46 AC
Opportunity Zone
Yes
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Nous desservons le nord-ouest du Michigan, d'abord depuis Traverse City depuis 1904, puis Suttons Bay depuis 1946. Il est clair que nous n'allons nulle part. Nous exploitons une quincaillerie à service complet et une scierie à Suttons Bay. Et une cour à bois et une salle d'exposition de premier plan, avec des services de design d'intérieur, à Traverse City. Quel que soit votre projet, nous sommes là, prêts à vous aider.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 05-187-019-00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,479,515 CAD |
Property Taxes
Parcel Number
05-187-019-00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,479,515 CAD
Contacts
-
Louis Murray -
Alexander Harrold -
Brett Davis -
Matthews Real Estate Investment Services
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US LBM | 1701 W South Airport Rd
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