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29815341
29815345

717 E Lake Shore Dr, Manistique, MI 49854

DP
MI MI 6502361821
Fortis Net Lease
RB
MI 6501323470
Fortis Net Lease
Listed by Fortis Net Lease
$2,326,000
342 days on market
Updated 108 days ago
Opportunity zone

Tractor Supply Co. W/ Fusion Renovation

Details
Property Type Retail
Sub Type Commercial
Square Footage 44,076
NOI $144,000
Rent Bumps Yes
Acreage 2.750
Ownership Fee Simple

Retail | 44,076 SqFt

Marketing description

Fortis Net Lease is pleased to present a prime investment opportunity in the heart of Manistique, MI: 717 East Lake Shore Drive. This 44,076 SF building offers a lucrative prospect for retail and vehicle-related investors with its 100% occupancy rate. Whether you're looking to expand your commercial real estate portfolio or establish a new venture, this property presents a robust foundation for success. Boasting a strategic location and maximum occupancy, it's poised to deliver steady returns and capitalize on the thriving local market demand. Don't miss out on this exceptional chance to secure a strong foothold in the Manistique area's commercial landscape.

Manistique, Michigan, is a small city nestled along the northern shore of Lake Michigan in the Upper Peninsula. Serving as the county seat of Schoolcraft County, Manistique had a population of 2,828 as of the 2020 census. The city is situated at the mouth of the Manistique River, which forms a natural harbor enhanced by breakwaters and the historic Manistique East Breakwater Light, first lit in 1916 and listed on the National Register of Historic Places in 2005. Historically, Manistique thrived during the late 19th and early 20th centuries as a hub for the logging industry, leveraging its strategic location for transportation and commerce.

Today, Manistique is celebrated for its natural beauty and outdoor recreational opportunities. Visitors can explore attractions like the Manistique Boardwalk along Lake Michigan, Palms Book State Park—home to Kitch-iti-kipi, Michigan's largest freshwater spring—and the nearby Indian Lake State Park. The city also offers cultural experiences through events at the Little Bear West Arena and local artisan markets. With its blend of historical charm and access to natural wonders, Manistique provides a tranquil retreat for those seeking both relaxation and adventure in Michigan's Upper Peninsula.

Investment highlights

  • 44,076 SF building space
  • Prime location in Manistique
  • Ideal for retail or vehicle-related businesses
  • Fully leased with 100% occupancy
  • Strong market demand in the area

Listing Contacts

DP
MI MI 6502361821
Fortis Net Lease
RB
MI 6501323470
Fortis Net Lease
Listed by Fortis Net Lease

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$144,000.00
$12,000.00/mo

Valuation Metrics

0
DSCR
6.19%
Cap Rate
6.19%
ROI

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Additional Information

Name
Doug Passon
License
MI 6502361821
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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