408 W Maumee St - Convenience Store FOR SALE


Adrian, MI 49221
$1,616,667 USD
248-415-2636
408 W Maumee St, Adrian, MI for Sale
$1,616,667 USD
Convenience Store - FOR SALE
1/2
null | 9% Cap Rate

408 W Maumee St
Adrian, MI 49221


HIGHLIGHTS

  • 3.83-Acre Lot Providing Outparcel/Value-Add Opportunity for a Future Investor.
  • “Dollar Tree Stores, Inc.” Lease Entity Publicly-Traded (NYSE: DLTR / S&P: BBB) Largest Small Box Discount Retailer in the U.S.
  • 9 Years Remaining on Double-Net Lease with Rent Increases: $0.50/SF in Each Option (4) 5-Year Options.
  • High Visibility on W Maumee Street (6,183 VPD)
  • Close proximity to Retail Trade Area Containing Walmart, Lowe’s, Meijer, Dunham’s Sports, & Others.

OVERVIEW

Marcus & Millichap is pleased to present the Dollar Tree located at 408 W. Maumee Street in Adrian, Michigan. Dollar Tree (Standard & Poor's: BBB Stable; NASGAQ: DLTR) occupies 10,707 square-feet of the building under a corporate-guaranteed triple-net lease. The tenant is paying rent for the entire building (19,500 square-feet_ and signed a new 10-year lease in June 2024. The former Family Dollar (9,126 square-feet) is dark. Recent improvements include a new parking lot, HVAC, plumbing, and electrical systems. The lease features four, give-year renewal options, with $0.50 per-square-feet rent escalation at the beginning of each option period. The property sits on a large 3.83-acre parcel, offering potential for an outparcel development to enhance long-term value. Landlord responsibilities are minimal, making this an attractive passive investment.

FOR SALE DETAILS

PRICE

$1,616,667 USD

PRICE/SF

$83 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Single Tenant Net Lease Dollar Tree

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1961

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.83 AC

LAND SF

166,835 SF

ZONING

B-4

APN/PARCEL ID

XA0-325-0028-01

ASK ABOUT THIS PROPERTY

Ashish VakhariyaMarcus & MillichapMore Info
248-415-2636

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Ashish VakhariyaMarcus & MillichapMore Info
248-415-2636

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