Walmart

CONTACT US REGARDING THIS LISTING

Robert Bender

Managing Partner

Douglas Passon

Managing Partner

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PROPERTY ADDRESS

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