Aldi

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Aldi

1366 W Main St Gaylord MI Ostego County

Sales Price: $2,111,111

Cap Rate: 4.50%

Lease Expiration: 10/31/2036

Contact Person(s): Maxwell Lippitt
Daniel Kukes
Jason Greenspan

Description:

ESSENTIAL GROCERY TENANT:

  •  Lease is guaranteed by Aldi Inc, one of the country’s fastest growing grocery retailers with a corporate goal of 2,500 stores by 2022.
  • Aldi ranks among the top 10 largest grocers worldwide based on sales which have increased over 35% in recent years.

LONG TERM LEASE:

  • Aldi has over 15 years of term remaining on their original lease with four, five-year options with stated rent increases.

REGIONAL TRADE AREA:

  • Aldi is surrounded by national big box retailers including Walmart, Home Depot, Lowe’s, Meijer, TJ Maxx, Hobby Lobby, ULTA, PetSmart and Kohl’s.

NEWER CONSTRUCTION:

  • The building was constructed in 2016 eliminating the need for short term capital expenditures.

Building Size: 18,850 SF

Lot Size: 1.80 AC

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 2,265 9,038 12,918
Avg. HH Income: $68,718 $66,479 $70,205

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.