425 E State Highway M28 | Munising, MI 49862
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425 E State Highway M28
Munising, MI 49862
Family Fare · Retail Property For Sale
Investment Highlights
- SpartanNash (Nasdaq: SPTN) Corporate Credit – Family Fare Supermarkets operate under the SpartanNash retail umbrella.
- Lack of Grocery Competition in 45+ Mile Trade Area – The nearest major grocer is Meijer in Marquette, MI, 47 miles from the property.
- Family Fare Gross Sales at this location have increased 14.85%, reflecting a desirable health ratio of 2.20%
- Offered Well Below Replacement Cost – The Property is being offered at $76 per square foot, significantly below replacement cost.
- Immediate Value-Add Opportunity via Lease Up – The Property sits at 95% occupancy, providing an immediate value-add opportunity
- Growing Store Sales, Secure Health Ratio – From May of 2015 to the most recent annual report in May of 2022
PROPERTY FACTS
Property Type
Retail
Property Subtype
Freestanding
Building Size
33,566 SF
Building Class
C
Year Built
2020
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.15
Lot Size
5.25 AC
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $1,253,800 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,253,800
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