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| Price $1,880,000 | Built/Renov 1999 | Tenant Michaels |
| Cap Rate 7.00% | Lease Type
Abs NNN | Guarantor Corporate |
| Size/SF
23,500
| Lease Start
03-02-2022
| #Units
1,300
|
| Price/SF $80.00 | Expiration
02-29-2032
| Tenant Type General Retail |
| NOI $131,600 | R. Term 6.5 | Ownership Fee Simple |
| Rent/SF
$5.60
| Increases 10.0%/6/yrs | Pop 5Mi 31,446 |
| Lot/AC 2.24 | Options 2/5yrs/10% | AHHI 5Mi $85,740 |
| | |
Michaels is strategically located along Highway 371, the main north–south corridor through the Brainerd Lakes area, with access to approximately 32,600 vehicles per day. Positioned as a Walmart outparcel within Baxter’s premier retail corridor, the site is surrounded by major national retailers such as Walmart, Home Depot, Costco, Target, ALDI, and others. The location is near several schools,...
...Hard corner intersection
Oversized lot
In location for years
WalMart out-parcel
Strategically located
Business growth area
Population increase trend
Brand new lease
Limited competition
Corporate Guarantee
Michaels is a nationally recognized specialty retailer focused on arts, crafts, framing, home décor, and seasonal merchandise. The company caters to a wide range of customers, including...
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Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]
