Value-Add Multi-Tenant | Lowe's & WMT Anchor | 859 Edelweiss Village Pky
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Value-Add Multi-Tenant | Lowe's & WMT Anchor 859 Edelweiss Village Pky
51,857 SF 83% Leased Retail Building Gaylord, MI 49735 $13,481,707 CAD ($260 CAD/SF) 7.75% Cap Rate
Investment Highlights
- Strong Tenant Line-up | Dollar Tree Anchor | 83% Occupied |Value-Add Opportunity
- Lowe’s and Walmart Shadow-Anchors | Dense Retail Corridor |Quick Access to Interstate-75 (14,600 VPD)
- Freestanding Single-Tenant AT&T On Own Parcel
Executive Summary
SRS Multi-Tenant Investments is pleased to present an exceptional opportunity to acquire the fee simple interest (land and building ownership) in Shops of Edelweiss, a distinguished retail center located in Gaylord, Minnesota. This 78% leased property is shadow-anchored by retail giants Walmart and Lowe’s, ensuring a consistent flow of traffic and visibility. The center’s primary anchor, Dollar Tree, has been a long-standing tenant for 20 years and has recently committed to extending its lease through 2034. Similarly, junior anchor Pet Supplies Plus has shown its dedication to the location by exercising a 5-year lease extension. Notably, over 42% of the Gross Leasable Area (GLA) is occupied by tenants with a tenure exceeding a decade, underscoring their strong performance and loyalty to the site. The Shops of Edelweiss hosts a diverse and resilient tenant mix that includes a variety of retailers, dining establishments, and service-oriented businesses. This well-rounded lineup is notably resistant to e-commerce disruption, further enhancing the property’s stability. With 83% occupancy, the center presents significant upside potential for a new owner to capitalize on by leasing the remaining vacancies and unlocking the full value of the asset. Strategically situated between Lowe’s and Walmart, the property enjoys a prime position within the city’s primary retail corridor, drawing the majority of local consumer traffic.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
51,857 SF
Building Class
C
Year Built
2004
Price
$13,481,707 CAD
Price Per SF
$260 CAD
Cap Rate
7.75%
NOI
$1,044,855 CAD
Percent Leased
83%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.09
Lot Size
12.95 AC
Opportunity Zone
Yes
Zoning
PUD & C2
Parking
485 Spaces (9.35 Spaces per 1,000 SF Leased)
Frontage
1,093 ft on Dickerson Rd
Amenities
- Dedicated Turn Lane
- Freeway Visibility
- Signage
- Signalized Intersection
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $9,026,574 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$9,026,574 CAD
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Value-Add Multi-Tenant | Lowe's & WMT Anchor | 859 Edelweiss Village Pky
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