List Search

120 E Broadway Ave
Muskegon, MI 49444 Muskegon Heights

$1,188,436 USD

Freestanding For Sale  •  9,000 SF

Property Details

  • Property Type Freestanding
  • Total Building Size 9,082 SF
  • Lot Size 1.17 AC
  • Building Class C
  • Year Built 2015
  • Cap Rate 8.50 %
  • Tenancy Single
  • Zoning SUD
30 Transit Score
60 Walk Score

Highlights

Corporate Tenant – The lease is signed by Family Dollar Stores of Michigan, Inc. Family Dollar operates over 7,100 locations across the country
Absolute NNN – This is a rare absolute NNN lease for Family Dollar with zero landlord responsibilities, offering 100% passive income
Passive Value-Add Investment – This asset represents an ideal play for an investor seeking high-yield, low-risk corporate income in the short term
Attractive Increase Schedule – 10% rental increases in each of the Six, 5-year options, which is beneficial to an owner
ssential Retail – Family Dollar stores often serve as community “essential retail anchors” in secondary and tertiary markets
Recession Resistant Tenant – Discount retail historically performs well during economic uncertainty, benefitting from resilient demand as consumers
Cap Rate: 8.50 %

Major Tenants

Tenant SF Occupied Lease End Date
Family Dollar

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Nathan Fitzgibbons 425-274-6696 Matthews Real Estate Investment Services
Nathan Fitzgibbons 425-274-6696 Matthews Real Estate Investment Services