2103 Parkview Ave - Freestanding FOR SALE


Kalamazoo, MI 49008
$8,084,336 USD
415-602-6339
2103 Parkview Ave, Kalamazoo, MI for Sale
$8,084,336 USD
Freestanding - FOR SALE
1/9
null | 6.25% Cap Rate

2103 Parkview Ave
Kalamazoo, MI 49008


HIGHLIGHTS

  • Established Grocery Operator | Long-Term Lease | Built-In Rental Growth
  • NNN Structure | Fee Simple Ownership | Passive Investment
  • Established Grocery Tenant | Long-Term Tenant Commitment
  • Additional Income Feature
  • Strong Kalamazoo Retail Corridor
  • High-Performing Grocery Location | Approx. $780 Sales PSF

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, D&W Fresh Market single tenant grocery investment property located in Kalamazoo, Michigan. The tenant operates under a long-term lease originally commencing November 9, 1998, with the current term extending through December 31, 2031, and three (3) five-year renewal options. The lease features a 10% rental increase effective January 1, 2027, followed by 10% increases at the beginning of each renewal option, providing investors with consistent NOI growth and a hedge against inflation. In addition to base rent, the lease requires the tenant to pay a 5% management fee to the landlord, resulting in total annual income of approximately $505,272 beginning in 2027. The lease structure is NNN, with the tenant responsible for property taxes, insurance reimbursements, maintenance, and operational expenses, creating a passive NNN investment opportunity with limited landlord responsibilities.

FOR SALE DETAILS

PRICE

$8,084,336 USD

PRICE/SF

$279 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

D&W Fresh Market | +/-$780 PSF in Sales

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1955

SPRINKLERS

-

PARKING SPACES

102

LAND DETAILS

CROSS STREETS

Oakland Drive and Parkview Ave.

LAND ACRES

2.33 AC

LAND SF

101,451 SF

ZONING

CN-1

APN/PARCEL ID

06-32-203-002

ASK ABOUT THIS PROPERTY

Jeff GatesSRS Real Estate PartnersMore Info
415-602-6339

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Jeff GatesSRS Real Estate PartnersMore Info
415-602-6339

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.