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Shopko

500 S Carpenter Ave, Kingsford, MI, United States
$8,699,733 7.50% Cap 94,250 sq ft Built 1970 Representative Photo Print This Page

Location

500 S Carpenter Ave, Kingsford, MI, United States

Price: $8,699,733
CAP: 7.50%
NOI: $652,480
Building Size: 94,250 SF
Lot Size: 9.7 AC
Year Built: 1970

100% Fee Simple InterestAbsolute NNN LeaseLocated on a Major Commercial ThoroughfareScheduled IncreasesStrong Store SalesZero Landlord Obligations

The subject property is a 94,250 square foot Shopko located in Kingsford, Michigan. The property features excellent exposure on Highway M-95. The site sits near the Birchwood Mall where JC Penny is an anchor. It is also near national retailers like Family Dollar, Burger King, and NAPA Auto Parts.

The tenant is subject to a long term absolute net lease with 18 years remaining on the initial term. There are zero landlord obligations.

The City of Kingsford is centrally located on the south border of Michigan’s Upper Peninsula. One of the area’s youngest communities, Kingsford originated from the industrial expansion of Henry Ford in 1920, building an automobile support plant closer to the raw materials of the U.P. Although Ford Motor Company no longer operates a plant in Kingsford, the city continues to thrive, offering a family and business friendly community with superb schools, diverse industries, businesses and a progressive climate for economic growth–all in an area that offers a wide array of recreational opportunities with a friendly neighborhood atmosphere.

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