2950 Center Avenue, Essexville, MI
CAP Rate: 6.85%
Net Operating Income: $88,032
Building Size: 14,672 SF
The Kase Group is pleased to offer the opportunity to acquire the 100% fee simple interest in an absolute NNN leased Joann Fabrics and Crafts. The property consists of roughly 14,672 square feet of building space. The property benefits from sitting on a commercial thoroughfare surrounded by major retailers including Walgreens and Family Dollar. The intersection of Center Ave. and Harding Rd. have traffic counts in excess of 23,800 vehicles per day. The property currently has a sub slab depressurization system for remediation on the adjacent property that started in 2005.
Essexville is a city in Bay County in the U.S. state of Michigan. The 2010 Census places the population at 3,478. Essexville is part of the Bay City, Michigan Metropolitan Statistical Area and is often associated with its larger, western neighbor. Essexville is named after Ransom P. Essex, a local settler. It was first platted in 1867. The Essexville Post Office opened on Feb 27, 1871. The Post Office was closed from January 20 to February 24 in 1879.It was incorporated as a village in 1883 and as a city in 1934.