West Shore Plaza II
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

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Marvin DeLaura

Senior Director

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PROPERTY ADDRESS

12386 Felch St., Holland, MI 49424

PROPERTY INFORMATION

Price:
$4,102,235
Cap Rate:
8.50%
Term Remaining:
2 Years
Year Built:
1985
Status:
Available

INVESTMENT HIGHLIGHTS

  • 2017 New Roof Installed | 60 mil TPO roof with an additional 1.5” of Insulation Board, and a 15 Year Warranty
  • Furniture Warehouse Recently Signed New 10 Year Lease
  • Hobby Lobby has over 700 locations nationwide
  • Two (2), Five (5) Year Options to Extend

INVESTMENT SUMMARY

Fortis Net Lease is proud to present a Two-Tenant retail investment opportunity on Felch St just off US-31 Highway in Holland, MI The tenants, Hobby Lobby and Furniture Warehouse, have been in operation at this location for over ten (10) years. Furniture Warehouse signed a new ten (10) year lease in January 2017, while Hobby Lobby signed a fifteen (15) year lease in 2004 with over two (2) years remaining. The tenants signed NN lease requiring minimal landlord responsibilities. The lease also features two, five year options for renewal.

The subject property is located along the area’s major retail corridor and is surrounded by many national tenants including: Kohl’s, Burlington, JC Penny, Bed Bath & Beyond, Dick’s, Walmart, Sam’s Club, Art Van Furniture, Discount Tire, Lowe’s, Aldi, Pet Supplies Plus, Best Buy, Michael’s, Meijer and many more.