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Views: 157 DOM: 569 Updated: 09.10.24 Posted: 06.01.23 Status: Active

Summary

Price $2,658,500
Built/Renov 1971/2015
Tenant Family Farm & Home
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 102,364
Lease Start 02-01-2016
#Units 70
Price/SF $25.97
Expiration 02-28-2033
Tenant Type Big Box Retail
NOI $179,455
R. Term 8.2
Ownership Fee Simple
Rent/SF $1.75
Increases 7.0%/4/yrs
Pop 5Mi 66,710
Lot/AC 11.24
Options 2/5yrs/7%
AHHI 5Mi $63,250

Lease Highlights

  • Recent ten-year lease renewal
  • The tenant has 9+ years remaining on the lease with 2 (5-year) options to extend
  • The lease features 7% rental increases every 5 years
  • Renovated In 2007 & 2015 | All new HVAC, electrical and mechanical
  • 2015 | Two thirds of roof replaced in last three years
  • Lease guaranteed by Family Farm & Home, Inc.

Location Description

This 102,364 square foot retail and distribution HUB is situated on 11.24 acres. It is strategically located at the signalized, hard corner intersection on Williston Road and Woodville Road which sees 16,246 VPD. Family Farm & Home is a family owned and operated company in Michigan. A brand-new 120-acre development is being completed across the street by the city of Northwood known as the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Family Farm & Home
  • Guarantor:Corporate
  • Company:Family Farm & Home, Inc
  • # Units:70
  • Stock:Private

About Tenant

Family Farm & Home is a family owned and operated company based in West Michigan. Their first location was opened in 2002 and in the 20 years since, has grown to the current count of 70 store...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,882 20,063 64,055
2023 Total Population : 2,868 20,057 64,466
2023 Employed Civilian Pop : 1,541 10,062 29,598
2023 Total Businesses : 77 765 1,747
2023 Average Household Income : $ 112,170 $ 87,375 $ 73,469
2023 Total Consumer Spending : $ 106 M $ 665 M $ 1732 M
2023 Median Age : 44 46 39
2023 Total Households : 1,112 8,772 26,991
2023 Pop Age 25+: Bachelor's Degree : 300 2,358 5,499
2023 Average Home Value : $ 260,381 $ 199,663 $ 171,618
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Woodville Rd Williston Rd 2003 13,120 0.12 mi
Woodville Road Owen Rd 2021 11,173 0.33 mi
Williston Road 917 2021 5,212 0.33 mi
Woodville Road 1036 2021 16,578 0.36 mi
15 Marie St 2017 1,071 0.47 mi
PEMBERVILLE RD Marie St 2020 992 0.52 mi
Woodville Rd 1174 2003 25,100 0.59 mi
15 502 2005 1,300 0.75 mi
Pemberville Road 502 2021 976 0.78 mi
Lemoyne Road 333 2021 770 0.80 mi

Listing Broker

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