3607 68Th St SE, Caledonia, MI 49316
- Outlet malls
- 9,301 SF
- 1.83 lot acres
Current Use by Public Records
- FedEx OnSite / Postal Service / Courier Service
- Dollar General / Discount Store
- Western Union / Bank / Credit Union
Property Details for 3607 68Th St SE
- Year built
- 2013
- Lot size
- 1.83 lot acres
- Zone code
- C1-NBHD COMM
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- 41-22-02-400-035
- APU
- 412202400035
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Nov 15, 2013 | — | Rubenstein,l & E T Family Trus Trust | Midwest V LLC | Grant Deed | — |
| Jul 25, 2013 | — | Midwest V LLC | Gerald C Clement | Warranty Deed | — |
Description
This exceptional investment opportunity presents a 9,301 square foot Dollar General store in Caledonia, MI, a thriving suburban market near Grand Rapids. Built in 2013, this Class A property sits on 1.83 acres and boasts an absolute NNN lease with a credit-rated tenant, ensuring minimal landlord responsibilities. The lease, commencing October 16, 2013, and expiring October 31, 2028, has approximately 4.5 years remaining, with five 5-year renewal options, each including rent increases. The property enjoys a 7.00% cap rate and a strong NOI of $94,905. Its prime location on 68th Street, a major retail corridor, benefits from proximity to significant residential developments, Gerald R. Ford International Airport, and a substantial concentration of industrial and distribution facilities, including a large Amazon fulfillment center. The property's strategic placement within a rapidly growing area, coupled with the long-term lease and strong tenant, makes this a compelling investment prospect. The asking price is $1,355,785, translating to $145.77 per square foot. The property is 100% occupied since its opening.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $977,000
- AI Estimate
- $977,000
Market price range: $410k - $1.10MMarket price range: $410k - $1.10M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $755,000 Current use
- COMMERCIAL (GENERAL)
- $765,000 Change: +1% Conversion: Easy
- OFFICE BUILDING
- $715,000 Change: -6% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Caledonia
- County
- Kent
- State
- Michigan
- Longitude
- -85.5749
- Latitude
- 42.8415
- CBSA code
- 24340
- CBSA name
- GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA
