Goodwill Houghton, MI

Retail-Commercial for Sale
Catylist Listing ID: 30741615
Property Subtypes: Free-Standing Building
Building Size (RSF): 12,900 SF
Gross Building Area: See Agent
Gross Land Area: 3 Acres
Sale Price: $1,700,000
Unit Price: $131.78 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Goodwill
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: 6.47%
Average Occupancy Rate: 100
Last Updated: 11/13/2021

Overview / Comments

The 6.47% Cap Rate jumps to 6.80% in year two. 11 years remaining on this single tenant Absolute Net Lease. The subject property is a Goodwill store located at 911 Razorback Drive in Houghton, Upper Peninsula, Michigan. The property consists of approximately 3 acres and is comprised of a 12,900 square foot building that was built in 2002.

Houghton is a city in Michigan's Upper Peninsula and the largest city in the Copper County on the Keweenaw Peninsula. Houghton is home to Michigan Technological University.

Additional Details

Nearest MSA: Houghton
County: Houghton
Taxing Authority: Houghton City
Tax ID/APN: 052-055-025-00
Zoning: B-3
Property Visibility: Good
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 2002

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,430 15,629 18,821
Median Age: 25.62 28.36 30.4
Households: 1,127 5,516 6,721


Photograph of Listing Agent

Scott Chandler

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