S Westnedge Avenue Build-To-Suit/Ground Lease Opportunity

Vacant Land for Lease
Also listed as Retail-Commercial
Catylist Listing ID: 29725467
Property Subtypes: Retail, Retail-Pad
Gross Land Area: 0.40 Acres
Lease Rate: $1 Per Acre (Annual)
$0 PSF (Annual)
Base Monthly Rent: $0.03
Lease Types: Ground Lease, NNN
Adjacent Parcels Available: Yes
Last Updated: 10/13/2021

Overview / Comments

5024 S Westnedge Avenue is an approximately 0.40-acre build-to-suit/ground lease opportunity in the heart of the Portage retail corridor, just north of Interstate 94. This is prime real estate for a drive-thru eatery/café, bank with drive-thru access, urgent care, or other retail/medical options. The unparalleled management from The Hinman Company ensures premium service aimed at exceeding expectations. Skilled local property management works diligently to ensure the success of users by providing a professional, well-maintained property to compliment the unique needs of their businesses. Additionally, The Hinman Company has its own team of in-house construction and design professionals standing by to help create thoughtfully designed developments. Strategically located along S Westnedge Avenue, the site offers unmatched brand exposure with visibility to over 46,894 daily drivers on W Kilgore Road and S Westnedge Avenue, which is one of the busiest intersections in Kalamazoo County. The site also benefits from the area’s dense retail including Lowes, Earth Fare, HomeGoods, and Meijer across the street. Synonymous with destination shopping, The Crossroads is an eight-minute drive. Customers will appreciate the easy ingress and egress through multiple possible entrances in addition to the ability for ample parking. Users will benefit from the location’s built-in consumer base that features a mix of demographics. This great location features strong economic demographics that offers all the elements that make for a successful business. In addition to the daytime commuter traffic, a population of over 150,770 people lives within a five-mile radius of the property, with the average household income exceeding $70,091.

Additional Details

Nearest MSA: Kalamazoo-Portage
County: Kalamazoo
Submarket Type: Suburban
Taxing Authority: City of Portage
Tax ID/APN: 00004-010-A
Zoning: CPD - COMMERCIAL PLANNED DEVELOPMENT
Market Type: Medium
Property Located Between: S Westnedge Avenue and W Kilgore Road
Side of Street: West
Road Type: Paved
Property Visibility: Excellent
Legal Description: SEC 4, T3S, R11W; COM AT NE COR TH W 302.84' TH S 230.65' TO POB TH E 246.64' TH S 74.38' TH W 229.17' TH N 68.66' TH W 18.61' TH N 7.84' TO POB. (.400 AC). SPLIT/COMBINED ON 06/19/2014 FROM 00004-010-O, 00004-005-O, 03960-004-O, 03960-005-A;
Largest Nearby Street: S Westnedge Avenue
Feet of Frontage: 74
Traffic/Vehicle Count: 46,894
Highway Access: Interstate 94 - 0.5 Miles
Airports: Kalamazoo/Battle Creek International Airport - 2.2 Miles
Area Description: Having built itself up as an economic powerhouse thanks to the production of pharmaceuticals by Pfizer, including the COVID-19 vaccine, and the development of medical technologies by locally based Stryker Corporation, Portage has become one of the most affluent and desirable suburbs in West Michigan. Portage residents enjoy a mostly quiet suburban atmosphere, filled with large homes and attractive apartment complexes. Located about 10 minutes south of Downtown Kalamazoo, the Portage area has been rapidly growing with a projected population growth of 3.0% over the next five years. Together these residents make up a total annual consumer spending of over $3.1 billion, almost $350 million of which was on food and drinking establishments last year. This prominent position and access, along with a high quality of living and friendly business environment, serve to boost the economic growth of Portage and make it an excellent area to locate a company.
Lot Frontage: 74'
Lot Depth: 232'
Zoning Description: The Commercial Planned Development district permits a mixture of office, commercial and service land uses in a planned manner and permits flexibility in building design, building placement and other site design elements.
Part of Planned Development?: Yes
Development Name: Westnedge@Kilgore Shopping Center
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain, Cable, Broadband, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,825 87,774 166,151
Median Age: 37.22 33.55 34.1
Households: 3,953 35,320 67,742

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