1451 Hanthorne StCadillac, MI 49601

Property Details for 1451 Hanthorne St

Lot size

3.63 AC

Property size (Sq ft)

6,300 SF

Property type

Industrial properties

Property subtype

Distribution centers

Description

This exceptional investment opportunity presents a 6,300 square foot industrial distribution facility leased to FedEx Freight under an absolute NNN lease. The property boasts a strong 5.25% cap rate and a substantial net operating income (NOI) of $120,000. The lease, originally commenced on August 11, 1999, has a remaining term of 10.2 years, extending to January 31, 2035. This long-term commitment is further secured by a recent 10-year lease extension and built-in 3% annual rent increases. The property features a triple cross-dock design, ample parking for 75 vehicles, and a generous 3.63-acre lot size, including outdoor storage space. Located at 1451 Hanthorne St, Cadillac, MI 49601, this strategically positioned asset benefits from convenient transportation access within a dense industrial corridor. The tenant, FedEx Freight, is an investment-grade tenant with a BBB (S&P) rating and is publicly traded on the NYSE (FDX). The asking price is $2,290,000, translating to a price per square foot of $363.49. This is a rare opportunity to acquire a secure, high-performing, long-term net lease investment.

Location Insight

City

Cadillac

County

Wexford

State

Michigan

Latitude

44.2716

Longitude

-85.4022

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