Grand Rapids, MI - Kalamazoo Avenue Retail

Description:

SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest (land & building ownership) in Kalamazoo Avenue Retail Center, a 21,235 SF, 100% occupied, 10-unit retail strip investment property located in Grand Rapids, MI. The center features a strong lineup of e-commerce resistant food, service, and health-based tenants. Majority of the tenants have an extensive historical occupancy, having operated at the site for over 10 years, a testament to the strength of the location. Additionally, Starbucks is equipped with an end-cap drive-thru land, which provides ease and convenience for customers.

The subject property is strategically located along Kalamazoo Avenue with clear visibility and access an average of 28,900 vehicles passing by daily. The asset benefits from nearby access onto State Highway 6 (48,600 VPD), U.S. Highway 131 (73,200 VPD), Interstate 96 (47,900 VPD), and other major routes, providing direct access into Downtown Grand Rapids and to the surrounding suburbs. The strip center is ideally situated within a dense retail corridor and is within proximity to Clock Tower Centre (91K+ SF), Bretwood Centre (66K+ SF), Gaines Marketplace (184K+ SF), and numerous other shopping centers. The surrounding national/credit tenants include Target, ALDI, Walmart Supercenter, The Home Depot, Walgreens, Meijer, among many others. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. In addition, the site is a quick 13-minute drive to Gerald R. Ford International Airport, the largest commercial airport in West Michigan with over 2.9 million passengers in 2021. Furthermore, the property is near numerous single-family communities and multi-family complexes including Sutton Club (168 units), Bloomfield Townhomes (200 units), The Crossings (660 units), and others, providing a direct residential consumer base for the site. The 5-mile trade area is supported by over 143,200 residents and 90,800 daytime employees, with residents boasting a healthy average household income of $86,054.

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Listing ID: a288X0000065K0kQAE