3607 68Th St Caledonia, MI 49316
- Outlet malls
- 9,301 SF
- 1.83 lot acres
Current Use by Public Records
- FedEx OnSite / Mailing Service
- Dollar General / Seasonal Goods Store / Dollar Store
- Western Union / Money Transfer Service
Property Details for 3607 68Th St
- Year built
- 2013
- Lot size
- 1.83 lot acres
- Property size
- 9,301 SF
- Zone code
- C1-NBHD COMM
- Property type
- Outlet malls
- APN
- 41-22-02-400-035
- APU
- 412202400035
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 Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
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
