$995,900
Holland, MI 49423
MLS# 23135012
21379 sqft
1 / 13
Property Description
Solid tenants & good Income producing retail building which includes Dollar General and Estate Warehouse. 2021 Capital improvements of over $60,000 for a new roof over Estate Warehouse of 10,000 plus sq.ft, New interior furnaces in warehouse / storage area, new A/C condenser & new water heater in Dollar General. Dollar General has been a long term tenant for 20 plus years and just renewed their 3 year option & has over 5 1/2 years remaining with another 3 year option remaining. Dollar General did an interior remodel this spring. Estate warehouse is in its 3rd year and is renewing for another 3 years. Great busy corner with good traffic counts for retail & great tenants to work with. Dollar General pays a NNN lease with prorations for property taxes and insurance
Details
Maps
Location & Property Info
County: Ottawa
Street #: 753
Street Name: Lincoln
Suffix: Avenue
State: MI
Zip Code: 49423
Zip (4): 5482
Cross Streets: US-31 to 32nd St
Property Sub-Type: Retail/Commercial
Area: Holland/Saugatuck - H
Municipality: Holland City
Office/Contract Info
Status: Active
Current Price: $995,900
List Price: $995,900
Auction or For Sale: For Sale
List Price/SqFt: 46.58
Prop Avail for Lease?: No
Sub Agency Type: %
Buyer Agency: 2.5
Buyer Agency Type: %
Trans Coord Type: %
Listing Date: 2023-09-20
Current Bldg Use: Investment/Rental
General Property Info
New Construction: No
Lot Measurement: Acres
Lot Acres: 1.12
Lot Square Footage: 48918
Lot Dimensions: 235 x 500
Year Built: 1968
Road Frontage: 235
Mineral Rights: Unknown
Total # Units: 2
# Fin Bldg Lvls: 1
# of Diff Unit Floor Plans: 3
Total # Bldgs: 1
Total SqFt: 21379
Property Use Type: Investment
Full Baths: 2
Waterfront: No
School District: Holland
Tax Info
Tax ID #: 701633301016
Taxable Value: 378300
SEV: 378300
For Tax Year: 2022
Annual Property Tax: 22579.16
Tax Year: 2022
Spec Assessment & Type: None
Non-Conforming Use: No
Remarks & Misc
Legal: S 233 FT OF SW 1/4 OF SW 1/4 LYING W OF C&O RR R/W, EXC W 33 FT FOR ST. SEC 33 T5N R15W
Directions: US-31 to 32nd St, then west to corner of Lincoln & 32nd.
Additional Details
Grd Lvl OH Doors: 2
Income and Expenses
Annual Maint ($): 3756.72
Annual Prop Ins ($): 3210
Gross Op Income ($): 111963.96
Net Operating Income: 81345.68
Operating Expense: 30618.28
SqFt Information
Total Bldg SqFt (Gro: 21379
Unit 1
Unit Description: Dollar General
SqFt: 7893
Rent $/Month: 4933.33
Unit 2
Unit Description: Estate Warehouse
SqFt: 13486
Rent $/Month: 4498
Property Features
Property Use: Investment
Uses: Distribution; Retail; Storage; Other
Ownership: LLC; Partnership
Business Includes: Non-Applicable
Construction Type: Block; Steel
Exterior Material: Block; Brick
Roofing: Rubber
Below Grade: None
Additional Features: Multi User Facility; Util Sep Mt
Tenant Pays All: Building Insurance; Common Area Maintena; Electric; Gas; Janitorial; Sewer; Trash; Water
Sewer: Public
Water: Public
Utilities Attached: Electric; Natural Gas
Util Avail at St: Broadband; Cable; Electric; Natural Gas; Public Sewer; Public Water
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: Central Air
Driveway: Paved
Street Type: Paved; Public
Purchase Terms Avail: Cash; Conventional
Docs Req Conf Agrmnt: Financials; Leases
Sale Conditions: None
Supplements
Estate warehouse is in its 3rd year and is renewing for another 3 years. Great busy corner with good traffic counts for retail & great tenants to work with. Dollar General pays a NNN lease with prorations for property taxes and insurance. Estate Warehouse pay for their utilities & their portion of snow plowing.
Listing Office: Coldwell Banker Woodland Schmidt
Listing Agent: Ron Webb
Last Updated: September - 21 - 2023
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