1830 172Nd AveGrand Haven, MI 49417

For Sale
$3,200,000

High-yield retail investment opportunity in Grand Haven, MI.

Overview

Added:
Dec 11, 2024
Days on market:
96
South Village Plaza, located at 1830 172nd Ave in Grand Haven, Michigan (Ottawa County, zip code 49417), presents a compelling investment opportunity in a thriving retail market. This single-story, 31,034 square foot shopping center sits on a 2-3 acre lot and is zoned C-2 Commercial. Currently operating at 75% occupancy, the property boasts a stabilized investment profile with a pro-forma NOI of $267,000 and a pro-forma cap rate of 8.34%. The asking price is $3,200,000, translating to a price per square foot of $102.56. The center features multiple suites available for lease, ranging from 1,600 to 3,200 square feet, under a Net Net + lease structure. Strategically positioned between D&W Fresh Market and Meijer, with convenient access to US-31, South Village Plaza benefits from high visibility and significant foot traffic. Current tenants include Sherwin Williams and Powerhouse Gym, among others, demonstrating a diverse and established tenant base. This property offers a strong return on investment with potential for future growth and increased occupancy. The building consists of one building with a total of 31,200 square feet.

Highlights

  • Investment-grade retail center in Grand Haven, MI, offering a strong 8.34% pro-forma cap rate.
  • 31,034 square foot single-story building on a ±2-3 acre lot, zoned C-2.
  • Currently 75% occupied with a pro-forma NOI of $267,000 and an asking price of $3,200,000 ($102.56/SF).
  • Multiple suites available for lease (1,600 - 3,200 SF) under a Net Net + lease structure.
  • High-visibility location between D&W Fresh Market and Meijer, with easy US-31 access, boasting strong foot traffic.

Property Details for 1830 172Nd Ave

Property type
Lifestyle centers, Power centers
Square Feet
31,200 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
87,120 SF

Location Insight

City
Grand Haven
County
Ottawa
State
Michigan
Latitude
43.0422193
Longitude
-86.2140232
1830 172Nd Ave, Grand Haven, Michigan

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1830 172Nd Ave
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