628 Palms Ave - Fast Food FOR SALE


Ishpeming, MI 49849
$1,953,000 USD
847-562-9280
628 Palms Ave, Ishpeming, MI for Sale
$1,953,000 USD
Fast Food - FOR SALE
1/3
null | 7.5% Cap Rate

628 Palms Ave
Ishpeming, MI 49849


HIGHLIGHTS

  • Brand new construction with upgraded decorative façade
  • 10-year lease – store scheduled to open summer of 2025
  • Located along Palms Avenue/US Highway 45 (19,000 VPD)
  • Over 15,000 people live within a five-mile radius
  • $83,712 average household income within a five-mile radius
  • Positioned in the main retail corridor (Notable tenants and attractions include McDonald’s, Taco Bell, Circle K, Family Dollar, Pizza Hut

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Dollar Tree located in Ishpeming, Michigan. The property features new construction speci?cally for Dollar Tree’s occupancy and contains a 20-year roof warranty. The store is scheduled to open during the summer of 2025 with a new 10-year lease. This property features a new upgraded prototype with decorative façade. The lease includes four 5-year renewal options with rental escalations at the start of each option. Dollar Tree is an investment-grade tenant, boasting a “BBB” credit rating from Standard & Poor’s. The 10,000-square-foot building is located along Palms Avenue/US Highway 41, which experiences over 19,000 vehicles per day and is the city’s busiest thoroughfare. Nearby retailers include McDonald’s, Taco Bell, Circle K, Family Dollar, Pizza Hut, Flagstar Bank, Jubilee Foods, Ace Hardware, UP Health System and several others. Notable attractions consist of The US Ski and Snowboard Hall of Fame & Museum and Cliffs Shaft Mine Museum & Iron Ore Heritage Bike Trail Trailhead. The population exceeds 15,000 within a five-mile radius, with an average household income of $83,712. Dollar Tree, Inc. is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates 16,000 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of 24 distribution centers. Additionally, the company operates stores under the name of Dollar Bills, as well as a multi-price-point variety chain under the Family Dollar banner.

FOR SALE DETAILS

PRICE

$1,953,000 USD

PRICE/SF

$551 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar Tree

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

CROSS STREETS

US. Highway 41 W

LAND ACRES

1.45 AC

LAND SF

63,162 SF

ZONING

GC

APN/PARCEL ID

52-51-600-029-00

ASK ABOUT THIS PROPERTY

John FeeneyThe Boulder GroupMore Info
847-562-9280

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

John FeeneyThe Boulder GroupMore Info
847-562-9280

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