18+ Years Remaining on an Absolute Net Lease
– The subject property was recently constructed in 2020, when Range USA signed a brand new 15-year lease. In 2023, the tenant added an additional 5 years of lease term making this a 20-year lease.
– The lease is absolute net in nature, with zero landlord responsibilities.
– In addition to the 20-year base lease term, the lease calls for an additional three, five-year option periods.
Range USA – Largest Firearms Educator in the World
– Range USA, formerly known as Shoot Point Blank, is the nation’s leading indoor gun range and retail shop, with a large internet retail presence.
– Their mission is to develop responsible gun owners by offering firearms education, modern indoor ranges, and extensive inventory of guns for all needs.
– Range USA is on pace to be the 3rd-largest gun seller in the nation and is already the largest educator in the world.
Detroit MSA – Densely Populated, Providing a Large Customer Base
– Wixom is strategically located within the Detroit MSA, offering easy access to residents of both the city and surrounding suburban areas. The network of major highways within the metro Detroit area further facilitates convenient travel to the Range USA facility.
– The Detroit MSA, encompassing six counties with over 4.4 million residents as of 2020, provides a large population within driving distance, increasing the potential customer pool for Range USA’s services, including:
• Shooting Range Access: A larger population means more potential enthusiasts and those seeking a safe and controlled environment for firearm practice.
• Firearm Sales & Training: The high population density translates to a wider market for firearm sales, accessories, and training courses, as offered by Range USA.
– The Detroit MSA boasts one of the largest economies in the U.S., with strengths in manufacturing, technology, and health care. This economic stability can contribute to a strong consumer base with disposable income for recreational activities like shooting. Positioned at a Stop Light Corner with 24,000+ Cars Per Day
– The property also backs up to Interstate 96, with over 129,000 cars per day.
– Strong national retailers Target, Kroger, Sam’s Club, Home Depot, Meijer and Menards are all within minutes of the Range USA property.
