Dollar General Investment w/Available Suite for Owner - West Michigan

Retail-Commercial for Sale
Catylist Listing ID: 28782705
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Restaurant, Retail-Pad, Service Station/Gas Station, Street Retail, Vehicle Related, Other
Building Size (RSF): 22,762 SF
Gross Land Area: 1.81 Acres
Sale Price: $1,249,900
Unit Price: $54.91 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Building Name: Dollar General 36th SW - west of Clyde Park SW
Usable Size (USF): 22,762 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 10/23/2017

Overview / Comments

Dollar General Investment Property - Grand Rapids Metro. 2 Unit commercial property - 50% leased to Dollar General, and 50% currently leased but also available for an owner-occupant. Ample parking all around the building. Drive thru potential. 7 mini storage units recently added. Building approved for mini and indoor storage. other potential uses, liquor store, retail, automotive, fitness gym.
For owner occupant, Retail Building - 11,377 sq. ft. Adjoins Dollar General. Across the street from Comcast Cable Customer Service Center. Many customers at this location just 1 block West of Clyde Park SW. Ample parking all around the building. SE corner of 36th street SW & Burr SW. 2014 estimated CAM is $1.34 PSF. Gas & electric are separately metered. Seller would consider other property in trade as down payment. Member of LLC is a Mich real estate broker.

Financials

Finance Data Year 2014
Net Operating Income $103,349 (Annual)
Gross Operating Income $131,935 (Annual)
Finance Data Year 2013
Real Estate Taxes - Annual($) $18,362 (Annual)
Assessed Value - Total($) $332,500 (Annual)

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: 36th/44th St Corridor
Taxing Authority: City of Wyoming
Tax ID/APN: 41-17-14-482-008
Zoning: B-1
Market Type: Large
Retail Clientele: General
Property Located Between: US-131 & Burlingame SW - just W of Clyde Park
Side of Street: North
Road Type: Paved
Property Visibility: Excellent
Largest Nearby Street: Clyde Park
Feet of Frontage: 300
Traffic/Vehicle Count: 17,580
Transportation: Bus, Highway, Taxi
Highway Access: US-131
Site Description: 2 unit retail on the NW corner of 36th St SW & Burr St SW. Dollar General is the east suite tenant, west suite vacant. To the west is a restaurant. Across the street is Comcast Regional Customer service center. Easy site to access with 4 curb cuts on the two streets.
Area Description: Combination of a regional location within a strong neighborhood setting.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1955
Year Renovated: 2007
Roof Type: Flat
Construction/Siding: Block
Exterior Description: brick & glass
Total Parking Spaces: 105
Parking Ratio: 0.2 (per 1000 SF)
Parking Type: Surface
Parking Description: surface on all four sides
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: Dollar General recently installed coolers, new racking, lighting and point of purchase area. West side is mostly open with center core of bathroom and utility room. Ask for conceptual plans to split the space.
Zoning Description: B-1 Community Commercial - City is very amenable to a variety of uses. Contact listing broker for details.
Lot Frontage: 300
Lot Depth: 274
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Y543B-1: PART SE 1/4 COM AT SW COR OF KEN- NETH ST & BURR AVE TH W ALONG S LINE OF SD KENNETH ST 300 FT TO E LINE OF SW 1/4 SW 1/4 SE 1/4 SE 1/4 TH S ALONG SD E LINE TO N LINE OF 36TH ST TH E ALONG N LINE OF 36TH ST TO W LINE OF BURR AVE TH N TO BEG SEC 14 T6N R12W 1.84 A

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,554 126,157 277,834
Median Age: 33.74 32 33.29
Households: 6,319 45,765 104,534
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