Listed by Laurex Real Estate
$5,500,000
Gaylord Michigan FEDEX Ground
Details
APN 102-750-000-036
Property Type Industrial
Sub Type Distribution
Square Footage 50,164
Net Rentable (SqFt) 50,164
Cap Rate 6.51%
NOI $357,971
Occupancy 100%
Tenancy Single
Brand/Tenant FedEx
Lease Type NNN
Lease Term 5.4
Lease Expiration 08/31/2029
Remaining Term 3.2
Lease Options yes, 1 Five year option remaining
Price per SqFt $110
Broker Co-Op Yes
Class B
Year Built 2006
Year Renovated 2024
Buildings 1
Stories 1
Acreage 6.890
Zoning Industrial
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/01/2024
Ceiling Height 20
Loading Docks 6
Dock High Doors 7
Ownership Fee Simple
Long Term Lease FEDEX Ground
Marketing description
Outstanding FEDEX Ground Facility located in Gaylord Michigan. This site serves all of northern Michigan. Fedex has recently exercised their first 5 year option to renew. Facility is in excellent condition with limited responsibilities of Landlord which are for Roof and outer walls.
New complete roofing system on entire building 10 year warranty
Owner is retiring and wishes to sell after owning for the past 15 years.
For further details please contact Todd Smith, 248-207-8042
Investment highlights
Net Lease
Corporate Tenant
Outstanding Condition
Listing Contacts
Listed by Laurex Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$357,971.00
$29,830.92/mo
Valuation Metrics
0
DSCR
6.51%
Cap Rate
6.51%
ROI
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