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
Kevin Baker
Maxwell Lippitt

Description:

“MAIN & MAIN”
Located on the pad of Grand Traverse Mall (598,000 SF) anchored by Target, Macy’s, JCPenney & TJ Maxx, with excellent visibility, access and prominence.

MINIMAL LANDLORD RESPONSIBILTIES
• Tenant is 100% responsible for payment of real estate taxes, insurance, and common area maintenance. The common areas are to be administered and maintained by the adjacent owner (X Golf and Buffalo Wild Wings). Landlord is responsible for the repairs of the roof and structure of the building.

LONG TERM LEASE WITH RENTAL INCREASES
• Ten (10) year lease with rent increases every 5 years

Building Size: 9,000 SF

Demographic Info:

Radius: 5 Mile 7 Mile 10 Mile
Population Density: 48,206 66,027 86,420
Avg. HH Income: $76,059 $81,751 $83,577

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.