NNN RETAIL INVESTMENT OPPORTUNITY - THREE RIVERS, MI

Retail-Commercial for Sale
Catylist Listing ID: 30430459
Property Subtypes: Free-Standing Building
Building Size (RSF): 2,520 SF
Gross Building Area: See Agent
Gross Land Area: 0.90 Acres
Sale Price: $875,000
Unit Price: $347.22 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Rx Optical
Sale Terms: Cash to Seller
Cap Rate: 7.4%
Average Occupancy Rate: 100
Last Updated: 8/22/2019

Overview / Comments

NNN RETAIL INVESTMENT OPPORTUNITY – 2,520 SF freestanding Rx Optical store, a regional tenant with $47M in 2018 company-wide annual sales and 55 eyecare stores throughout the Lower Peninsula of Michigan and Northern Indiana. Well situated at the gateway to the US-131 retail corridor in Three Rivers, this property is located in front of River Crossings, a 63,065 SF neighborhood shopping center featuring Biggby Coffee, Verizon, Harbor Freight, Dollar General, Goodwill Industries and more. The high-visibility site offers 18 parking spaces, monument signage and multiple ingress/egress options. Area big-box tenants include Tractor Supply Company, Walmart Supercenter, Meijer, Menards, Dunham’s Sports, Aldi and The Home Depot.

Additional Details

Nearest MSA: Sturgis
County: Saint Joseph
Taxing Authority: Three Rivers, City of
Tax ID/APN: 75-051-399-102-00
Zoning: B-2, GEN BUS DISTRICT
Property Located Between: Hoffman St. & Millard Rd.
Property Visibility: Excellent
Largest Nearby Street: W. Michigan Ave.
Highway Access: Located on US-131 Highway.
Site Description: River Crossing Shopping Center outparcel.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,520 SF
Roof Type: Gable
Construction/Siding: Brick, Wood Siding
Total Parking Spaces: 18
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: B-2, General Business District
Water Service: Municipal
Sewer Type: Municipal
Legal Description: TBD

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,711 12,419 17,092
Median Age: 33.41 35.57 38.06
Households: 712 4,827 6,691

Contact

Photograph of Listing Agent

Jodi K. Milks, CCIM

Bradley Company CARWM Member
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