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69060-69080 M-66, Sturgis, MI, 49091

Offering Memorandum

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Tractor Supply & Dunham’s

$4,355,000

Key Information

Cap Rate
8.75%
$ per SF
$61
Tot. SF
71,635
Lot Size
10.54 Acres
Year Built
2016
Term Remaining
± 7.5 Years
Type
Shopping Centers
NOI
$381,131

Highlights

• TRACTOR SUPPLY & DUNHAM’S ANCHORED CENTER | RECENT LONG-TERM EXTENSIONS WITH BOTH TENANTS | 10-YR EXTENSION WITH TRACTOR SUPPLY (EXP 6/2036)
• FUTURE MARK-TO-MARKET OPPORTUNITY | UNDER-MARKET DUNHAM’S RENT OF $5.59 PSF (GROSS)
• OFFERED SIGNIFICANTLY BELOW REPLACEMENT COST AT $61 PSF | ANNUAL BASE RENT = $6.51 PSF | NEARLY 11 ACRE PARCEL
• ATTRACTIVE GOING-IN YIELD WITH DOUBLE-DIGIT (10+%) CASH-ON-CASH RETURN YEAR 1
• IDEAL LOCATION ALONG CENTERVILLE RD (±18,000 VPD) IN THE HEART OF THE RETAIL CORRIDOR | CONVENIENT ACCESS TO I-80/90 (±22,100 VPD) LESS THAN 3 MILES AWAY | EXCELLENT VISIBILITY WITH AN ABUNDANCE OF PARKING AND MULTIPLE POINTS OF INGRESS/EGRESS
• STRONG DUNHAM’S SALES | 2025 SALES: $3,171,939 – 6.9% OCCUPANCY COST | MINIMAL COMPETITION | NEXT CLOSEST TRACTOR SUPPLY IS 30+ MINUTES AWAY DRIVE TIME
• EASE OF MANAGEMENT WITH ONLY 2 TENANTS
• OFFERED FREE & CLEAR OF EXISTING FINANCING

Photos

Location

Agents

Broker of Record

Matt Fitzgerald

License # 6502432668, 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203