Five Below

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Five Below

3450 W South Airport Rd Traverse City MI Grand Traverse County

Sales Price: $2,314,286

Cap Rate: 7.00%

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

Description:

LONG TERM LEASE

  • Five Below has signed a long term (10 year) lease at this location with a rent increase in year 6.

STRONG, GROWING TENANT

  • Five Below (NASDAQ: FIVE) plans on opening 100-120 net new stores in 2020, despite the Covid-19 Pandemic –representing 11-13% growth overt 2019. Since 2002, Five Below has opened 950+ stores in 38 states. The company is continuing to focus on essential goods, consumables, and everyday household items.

PAD TO GRAND TRAVERSE MALL

  • Five Below sits as a pad to the Grand Traverse Mall (290,000 SF), which anchors the entire retail corridor. Other surrounding retailers include: TJ Maxx, Best Buy, Home Depot, Walmart, Home Depot, PetSmart, Ulta, and HomeGoods.

Building Size: 9,000 SF

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 2,763 27,054 49,723
Avg. HH Income: $58,070 $65,304 $74,147

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.