Michaels NNN Property For Sale
This investment opportunity features a Michaels store, a leading arts and crafts retailer. The property benefits from a strong corporate guaranty and a long-term net lease, providing stable income for investors. Michaels operates over 1,250 stores across North America, offering a wide range of products for creative endeavors and home decor. The company has a robust business model with established brands and a significant market presence.
- Asking price $4.50M
- 6.88% cap rate
- NOI $307,500
- 20 years remaining
- NNN lease
- Year built: 2020
- Building size: 19,000 SF
- Lot size: 2.00 acres
- Rent increases: 10% Every 5-Years
- Guarantor: Corporate
Asset type: Retail