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Tractor Supply Co 91 W Pine Lake Dr 36,047 SF Retail Building Newaygo, MI 49337 $3,247,119 CAD ($90.08 CAD/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- 34,886 SF building Only $66 per square foot.
- New roof in 2024 with 15 year warranty.
- Ideal demographics for TSC. 10 years left on original 15 year term 100% occupancy.
EXECUTIVE SUMMARY
Fortis Net Lease is pleased to present a prime investment opportunity at 91 W Pine Lake Dr, Newaygo, MI, 49337. This expansive 34,886 SF building, located in the sought-after Newaygo area, is 100% occupied, presenting a compelling investment proposition. Additionally the tenant is investing nearly $1m of their own funds to renovate and update this store to their new Fusion Format which drastically increase the quantity and types of goods sold.
At only $151,200 in annual rent TSC is benefiting greatly with this low occupancy costs. The majority of newer construction sites, which are also smaller buildings by nearly half, have rents three times higher than here in Newaygo.
At only $151,200 in annual rent TSC is benefiting greatly with this low occupancy costs. The majority of newer construction sites, which are also smaller buildings by nearly half, have rents three times higher than here in Newaygo.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
36,047 SF
Building Class
C
Year Built
2000
Price
$3,247,119 CAD
Price Per SF
$90.08 CAD
Cap Rate
6.50%
NOI
$211,063 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
3.71 AC
Zoning
C-2 - Commercial
Parking
85 Spaces (2.44 Spaces per 1,000 SF Leased)
Frontage
397’ on West Neway Drive
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 19-30-130-012 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,528,125 CAD |
PROPERTY TAXES
Parcel Number
19-30-130-012
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,528,125 CAD
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Tractor Supply Co | 91 W Pine Lake Dr
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