1000 W Sharon Ave
Houghton, MI 49931

This is an excellent opportunity to purchase an investment property for $4,430,500 at 7.00% cap rate with 8 years remaining on the lease. This lease includes scheduled 10% rent increases, including each of two 5-year options. The property is in an ideal location, just off Highway 26, the main retail corridor south of downtown Houghton. This Tadych' s Econofoods store is located on West Sharon Avenue and Highway 26 in Houghton, Michigan. Highway 26, also known as West Memorial Drive, has traffic counts of 14,100 vehicles daily. Econofoods is located in the main retail corridor south of downtown Houghton. Nearby properties include Shopko, Walmart Supercenter, Culver' s, Holiday Inn Express, Pizza Hut, Walgreens, McDonald' s, Goodwill, Sears, JCPenney and many more. Houghton is a city in Michigan's Upper Peninsula and largest city in the Copper Country on the Keweenaw Peninsula. It is the county seat of Houghton County and has been listed as one of the "100 Best Small Towns in America by Norman Crampton. Situated on the hills bordering the beautiful Portage Waterway, Houghton offers a bounty of recreational opportunities all year long.