JOANN Fabrics & Crafts – Essexville, MI

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JOANN Fabrics & Crafts – Essexville, MI

2950 Center Ave Essexville MI Bay County

Sales Price: $1,100,400

Cap Rate: 8.00%

Lease Expiration: 1/31/2029

Contact Person(s): Max Lippitt
Daniel Kukes
Kevin Baker
Jason Greenspan

Description:

KROGER SHADOW

  • JOANN sits directly adjacent to a well performing Kroger which has been operating at this location for 25+ years. Kroger has seen 30% growth in same store sales for the first half of 2020.

LONG TERM OPERATING HISTORY

  • JOANN has been at the site since 1996 and recently demonstrated their commitment to this location by signing a new 10 year renewal with a 2029 expiration date.

RECENT BUILDING RENOVATIONS

  • JOANN’s roof and building façade were both completely replaced in 2018 while JOANN updated the interior of the space with the company’s latest layout.

Building Size: 14,672 SF

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 5,464 38,313 63,662
Avg. HH Income: $74,625 $62,386 $62,573

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.