This single-tenant retail investment property offers a stable income stream with a long-standing tenant, Community Markets, operating at this location since 1990. The property is offered at $865,000 with an attractive 8.5% cap rate and a net operating income of $73,927.60. The tenant’s current lease runs through February 28, 2029, providing secure cash flow for investors.
The building spans 14,016 SF on a 0.91-acre site and has undergone significant updates, including a new roof in 2010, repaved parking lot in 2019, and interior renovations in 2002. The property includes 75 parking spaces, three curb cuts, and is zoned for commercial use.
Community Markets, now part of Spartan Nash, operates 49 grocery stores across the region and is backed by a major wholesaler with 188 supermarkets in 11 states. The lease structure includes base rent plus percentage rent on sales exceeding $3 million, with a historical maximum percentage rent of $10,000 annually. This investment offers a proven tenant, strong regional brand, and consistent performance for over three decades.