7 Cap Investment Prop. 1424 M-89 HWY

Retail-Commercial for Sale
Catylist Listing ID: 30737355
Property Subtypes: Retail-Pad, Service Station/Gas Station, Street Retail, Vehicle Related, Other
Building Size (RSF): 1,400 SF
Gross Building Area: See Agent
Sale Price: $415,000
Unit Price: $296.43 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/24/2021

Overview / Comments

Rental income is $2,950 per month with full pass through lease. 1 year remains on the current lease and a 5-year lease beginning July 1st, 2022 has been signed. This equals 6 years of income production, totaling $424,800 over the term.

-Exposure to over 30,000 cars/day
-296 feet of highway frontage
-Long-term tenant
-Owner willing to package sale with 1325 S. Drake Rd. (with same long-term tenant)

Attachments & Media

Additional Details

Nearest MSA: Holland
County: Allegan
Tax ID/APN: 17-023-023-00
Zoning: COMMERCIAL
Tenancy: Single Tenant

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,486 14,468 22,091
Median Age: 36.95 38.51 40.19
Households: 1,389 5,705 8,626

Contact

Photograph of Listing Agent

R. Kyle Grooters

Bradley Company CARWM Member
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