500 S Carpenter Ave, Kingsford, MI
$8,699,733 · 7.50% CAP · 18 Yr. Lease · Single Tenant Net Lease


500 S Carpenter Ave, Kingsford, MI

Price: $8,699,733
CAP: 7.50%
NOI: $652,480
Building Size: 94,250 SF
Lot Size: 9.7 AC
Year Built: 1970

The subject property is a 94,250 square foot Shopko located in Kingsford, Michigan. The property features excellent exposure on Highway M-95. The site sits near the Birchwood Mall where JC Penny is an anchor. It is also near national retailers like Family Dollar, Burger King, and NAPA Auto Parts.

The tenant is subject to a long term absolute net lease with 18 years remaining on the initial term. There are zero landlord obligations.

The City of Kingsford is centrally located on the south border of Michigan’s Upper Peninsula. One of the area’s youngest communities, Kingsford originated from the industrial expansion of Henry Ford in 1920, building an automobile support plant closer to the raw materials of the U.P. Although Ford Motor Company no longer operates a plant in Kingsford, the city continues to thrive, offering a family and business friendly community with superb schools, diverse industries, businesses and a progressive climate for economic growth–all in an area that offers a wide array of recreational opportunities with a friendly neighborhood atmosphere.

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Presented By

Jeff Gates

Senior Vice President of Investment Sales

BRE# 01768554

Jeff Gates is a Senior Vice President of Investment Sales at The Kase Group. Since joining the team in 2015, his focus has been on developing new business and closing deals. He was the Top Producer in the company in..

Jacob Abusharkh

Managing Principal

BRE# 01385529

Jacob Abusharkh is the Managing Principal and co-founder of The Kase Group (TKG). TKG specializes in the sale of single and multi-tenant net leased retail and industrial assets across the country. Prior to going independent of SVN, TKG was one..

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