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Marvin DeLaura

Fortis Net Lease

Office Phone: 248.419.3811

Cell Phone: 248.770.1966

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Published on: Wednesday, September 27, 2017 2:21:33 PM
Updated on: Wednesday, September 27, 2017 2:21:33 PM
Purchase with B2B
Purchase with B2B
 Purchase with Business to Business
Quick Glance

Listing ID: CL-Michigan-91408

Status: Accepting Offers

Financing: No Financing Available

Occupancy: 100%

Year Build: 1985

 

Building Size: 80,280 SqFt

Lot Size: 6 Acre

No of Stories: 0

No of Parking: 0

Business Available for Sale: No

Is Net Lease Investment: No

Property On Ground Lease: No

Building Status: Existing

 Details

Offer to Millionaire Club: No

Listing Summary: The subject property is located along the area’s major retail corridor and is surrounded by many national tenants including: Kohl’s, Burlington, JC Penny, Bed Bath & Beyond, Dick’s, Walmart, Sam’s Club, Art Van Furniture, Discount Tire, Lowe’s, Aldi, Pet Supplies Plus, Best Buy, Michael’s, Meijer and many more.

Acquisition Option Selected: Traditional Purchase

Cap Rate (%): 8.5

Commission Split (%): 0

Complete Details


Year Build: 1985

Building Size: 80,280 SqFt.

No of Stories: 0

Total Lot Area: 6.31 Acre

No of Parking: 0

No of Total Units: 0

Property Current Status: Normal Sale

Building Status: Existing

Heating and Cooling: Not Specified

Building Class: A

Property on Ground Lease?: No

Net Lease Investment?: No

Business Price Included?: No

Roofing: Not Specified

Occupancy: 100%

Full Description


LoudLister is proud to present a Two-Tenant retail investment opportunity on Felch St just off US-31 Highway in Holland, MI The tenants, Hobby Lobby and Furniture Warehouse, have been in operation at this location for over ten (10) years. Furniture Warehouse signed a new ten (10) year lease in January 2017, while Hobby Lobby signed a fifteen (15) year lease in 2004 with over two (2) years remaining. The tenants signed NN lease requiring minimal landlord responsibilities. The lease also features two, five year options for renewal. The subject property is located along the area’s major retail corridor and is surrounded by many national tenants including: Kohl’s, Burlington, JC Penny, Bed Bath & Beyond, Dick’s, Walmart, Sam’s Club, Art Van Furniture, Discount Tire, Lowe’s, Aldi, Pet Supplies Plus, Best Buy, Michael’s, Meijer and many more.

Additional Properties


Property Tenants
  • Hobby Lobby
  • Furniture Warehouse
Property Highlights
  • 2017 New Roof Installed | 60 mil TPO roof with an additional 1.5” of Insulation Board, and a 15 Year Warranty
  • Furniture Warehouse Recently Signed New 10 Year Lease
  • Hobby Lobby has over 700 locations nationwide
  • Two (2), Five (5) Year Options to Extend
  • Located on Felch Street (13,000+ VPD)
  • Major Retail Corridor | Just Off US HWY 31 (32,000+ VPD)
  • Positioned Near National Retail Tenants Including: Walmart, Lowe’s, Aldi, Sam’s Club, Subway, Best Buy, Tractor Supply Company, Walgreen’s, Meijer and many more
  • Median Home Value Within 5 Miles Exceeds $150,000
  • Average Household Income Exceeds $68,900 Within 5 Miles
  • 5.94% Population Growth Within 1 Mile by 2022

Attached Documents


 Download | West Shore Plaza II, Holland MI OM.pdf ( 2,241.61KB)

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