PetSmart | 4485 24th Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
PetSmart 4485 24th Ave
18,349 SF Retail Building Fort Gratiot, MI 48059 $3,461,914 ($189/SF) 7% Cap Rate
Investment Highlights
- Corporate Lease
- Strong Performing Store
- Recent Extension
Executive Summary
LEASE
- Tenant recently extended its Lease term early, offering a strong commitment to this site long term
- There are now over 13 years of primary term remaining with a secure corporate Lease
- Rent increases 15% in first renewal option which will increase property value
- All CAM is managed by a third party with a management fee already baked into the NOI, offering hassle free ownership
- Tenant reimburses for all parking lot and roof repairs, leaving replacement as the only true Landlord responsibility
PROPERTY
- 18,349 SF building on 3.320 acres with plenty of parking
- End cap adjacent to a Kohls Department store
- Property is located at a signalized intersection with 4 points of easy ingress/egress
- The site is surrounded by retailers in all directions and shares the intersection with Birchwood Mall
- Notable retailers in the immediate vicinity include Target, Home Depot, Lowe’s, Walmart, and Meijer
- This asset is in the middle of the local retail corridor and offers excellent tenant demand long term
TRADE AREA
- Fort Gratiot is part of the Port Huron, MI area which contains over 100,000 people, offering a stable retail customer base
- Port Huron is only 60 miles north of Detroit and acts as a vacation town to many of the 4.1 million MSA residents
- The area is located on Lake Huron right on the United States and Canadian border
- The Port of Port Huron acts as a major US shipping port with over $57 billion in imports (2023) annually
- Port Huron is the 9th largest exporter out of 385 nationally
- Exports from this area go to Canada, the UK, Germany, Netherlands, and Belgium making it a very important shipping port
- Tenant recently extended its Lease term early, offering a strong commitment to this site long term
- There are now over 13 years of primary term remaining with a secure corporate Lease
- Rent increases 15% in first renewal option which will increase property value
- All CAM is managed by a third party with a management fee already baked into the NOI, offering hassle free ownership
- Tenant reimburses for all parking lot and roof repairs, leaving replacement as the only true Landlord responsibility
PROPERTY
- 18,349 SF building on 3.320 acres with plenty of parking
- End cap adjacent to a Kohls Department store
- Property is located at a signalized intersection with 4 points of easy ingress/egress
- The site is surrounded by retailers in all directions and shares the intersection with Birchwood Mall
- Notable retailers in the immediate vicinity include Target, Home Depot, Lowe’s, Walmart, and Meijer
- This asset is in the middle of the local retail corridor and offers excellent tenant demand long term
TRADE AREA
- Fort Gratiot is part of the Port Huron, MI area which contains over 100,000 people, offering a stable retail customer base
- Port Huron is only 60 miles north of Detroit and acts as a vacation town to many of the 4.1 million MSA residents
- The area is located on Lake Huron right on the United States and Canadian border
- The Port of Port Huron acts as a major US shipping port with over $57 billion in imports (2023) annually
- Port Huron is the 9th largest exporter out of 385 nationally
- Exports from this area go to Canada, the UK, Germany, Netherlands, and Belgium making it a very important shipping port
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Department Store
Building Size
18,349 SF
Building Class
B
Year Built
2007
Price
$3,461,914
Price Per SF
$189
Cap Rate
7%
NOI
$242,334
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.13
Lot Size
3.32 AC
Parking
225 Spaces (12.26 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 20-021-2016-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,432,100 |
PROPERTY TAXES
Parcel Number
20-021-2016-001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,432,100
1 of 4
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
PetSmart | 4485 24th Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.