Walmart
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3850 E Grand River Ave, Howell, MI 48843
PROPERTY INFORMATION
Price:
$22,821,000
Cap Rate:
6.0%
Term Remaining:
7+ years Years
Year Built:
1999
Status:
Available
INVESTMENT HIGHLIGHTS
- Recently Extended Lease Term For An Additional 7 Years
- Tenant Received A 7% Rent Reduction In Return For Extension
- 24 Hour Location Visible from Interstate 96
- Strong Store Sales Volumes (Only Walmart Within An 11 Mile Radius)
- Dominant Retailer In Livingston County
- Corporately Guaranteed Lease (S&P: AA/Stable)
- Offered Free & Clear Of Existing Financing
- This Store Does In Excess of $100M Per Year In Sales
- Tenant Recently Invested Over $4M In Interior Improvements & Upgrades
- This Store Out-Positions Meijer, Their Biggest Competitor In Michigan
- Walmart Closed Their Nearest Store In Hartland, MI Several Years Ago And Have Reinvested In This Store As The Flagship In The Region.
- There Is No Walmart Location In The Nearest Large City (Brighton, MI). The Subject Property Carries The Load For Both Markets