West Wood Shopping Center

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West Wood Shopping Center

1706-1818 Lawndale Rd Saginaw MI Saginaw County

Sales Price: $5,434,022

Cap Rate: 8.75%

Contact Person(s): Daniel Kukes & Kevin Baker & Louis Ciotti

Description:

Strong Operating History

  • Very strong rent collection during COVID-19.
  • There are seven original tenants (Dollar Tree, Rent-A-Center, CATO, GNC [franchisee assumed lease from corp.], Sally Beauty, Supercuts and Check ‘N Go) that have been operating at West Wood since the late 1990s and early 2000s.
  • These tenants represent over 23,000 SF of the shopping center, or just under 50% of the gross leasable square feet, and 54% of the gross income for the shopping center.

Ability to Add Value

  • The center has three vacant units totaling 7,550 SF that a new owner can lease and add NOI. Two of the vacancies are adjacent to each other and can be combined creating a larger space.

Lot Size: approx. 7.50 acres

Gross Leasable Area: 50,150 SF

Tenant Roster: Dollar Tree, Shogun, Rent-A-Center, CATO

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 8,806 54,207 92,080
Avg. HH Income: $57,158 $66,653 $59,859

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.