Goodwill Retail Center

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30741608
Property Subtypes: Free-Standing Building
Status: Pending
Building Size (RSF): 19,916 SF
Gross Building Area: See Agent
Sale Price: $2,350,000
Unit Price: $118 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 9/30/2021

Overview / Comments

The subject property is a Goodwill store located at 3125 US 42 in Marquette, Michigan. The property consists of approximately 2 acres and is comprised of a 19,916 square foot building that was built in 1998.

Marquette is a city in Marquette County that is located in the north central portion of the Upper Peninsula of Michigan. According to the 2019 U.S. Census, the population of Marquette County was 66,699 while the population of Marquette was 20,995. Marquette is home to Northern Michigan University, with an annual enrollment of 7,600 students. Major employers of the area include UP Health System, Cliffs Natural Resources, Upper Peninsula Medical Center, Bell Hospital and Walmart.

In year one the Cap Rate is 6.06%, in year 2 the Cap Rate bumps to 6.36%. This is a 15 year Absolute Net Lease that began in 6/1/2017. There are 11 years remaining on the Goodwill lease.

Additional Details

Nearest MSA: Marquette
County: Marquette
Tax ID/APN: 52-08-020-023-00
Zoning: GB
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,134 18,229 28,148
Median Age: 38.84 35.26 35.99
Households: 913 6,718 11,143

Contact

Photograph of Listing Agent

Scott Chandler

Space Source CARWM Member
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