632 16Th StHolland, MI 49423

Property Details for 632 16Th St

Year built

2024

Lot size

0.70 AC

Property size (Sq ft)

1,665 SF

Property type

Specialty properties

Property subtype

Retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 1,665 square foot Take 5 Oil Change located in Holland, Michigan, within the Grand Rapids MSA. Built in 2024, the property boasts a 100% occupancy rate with a 14.4-year remaining lease term (expiring March 30, 2039), featuring an absolute NNN lease structure. The tenant is a franchisee, providing strong creditworthiness and operational stability. The property enjoys a strategic location on a 0.7-acre corner lot, benefiting from high visibility and traffic volume exceeding 50,000 vehicles per day. Its proximity to major retailers like Meijer and Menards further enhances its appeal. The lease includes attractive rent bumps of 7.5% every five years, ensuring consistent income growth throughout the lease term and eight (8) five-year lease options, each with a 7.5% rent increase. The current Net Operating Income (NOI) stands at $132,900, yielding a compelling 6.50% capitalization rate. The asking price is $2,044,615, translating to a price per square foot of $1,228. This property is an ideal addition to any diversified investment portfolio, offering a strong combination of location, tenant quality, and financial performance. The property shares access with a neighboring 7Brew, and both properties are available for purchase. Holland State Park, a major tourist attraction drawing 1.5 to 2 million annual visitors, is also nearby.

Location Insight

City

Holland

County

Ottawa

State

Michigan

Latitude

42.7829

Longitude

-86.0798

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