308 S Michigan St - Freestanding FOR SALE


Edon, OH 43518 | 
$850,000 USD
248-488-2620
308 S Michigan St, Edon, OH for Sale
$850,000 USD
Freestanding - FOR SALE
1/7
null | 8% Cap Rate

308 S Michigan St
Edon, OH 43518


HIGHLIGHTS

  • Secure Cash Flow & Credit Guaranty
  • Proven Location Commitment
  • Rental Increase
  • Low-Maintenance Lease Structure
  • Limited Local Retail Competition
  • Supply Chain Proximity

OVERVIEW

Landmark Investment Sales is pleased to exclusively offer a fully occupied Family Dollar in Edon, OH. The property provides a secure, low-risk income stream backed by strong corporate credit. Demonstrating a long-term commitment to this location, the tenant executed an early 5-year lease extension through September 30, 2032, followed by five additional 5-year renewal options extending through 2057. The lease features built-in rental increases at each option term—jumping 12.24% in the Second Extended Term and roughly 5% at every subsequent extension. Built recently in 2017, the 8,320 SF freestanding building requires limited near-term deferred maintenance and benefits from strong local traffic as the primary retailer in Edon.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$102 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2017

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,711 SF

ZONING

-

APN/PARCEL ID

071-200-06-009.006

ASK ABOUT THIS PROPERTY

Jason GreenspanLandmark Commercial RE ServicesMore Info
248-488-2620

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Jason GreenspanLandmark Commercial RE ServicesMore Info
248-488-2620

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.