PetSmart NNN Property For Sale — Kentwood, MI
3950 28th Street SE, Kentwood, MI 49512
This PetSmart property is an exceptional investment opportunity, featuring a tenant that has demonstrated strong commitment through an extended 10-year lease and over $1.5 million in recent store renovations. Located in a prime retail corridor within Kentwood, MI, the property benefits from high visibility and proximity to major national retailers. Uniquely, this location includes a PetsHotel, an amenity found in only 12.5% of PetSmart stores, providing an additional revenue stream. The property also boasts a fully replaced roof in 2015 with a 20-year warranty, ensuring long-term asset integrity. Its strategic location along 28th St SE sees traffic counts exceeding 50,000 vehicles per day. PetSmart, a Fortune 500 company and the nation's largest specialty pet retailer, has a robust busine…
- Address: 3950 28th Street SE, Kentwood, MI 49512
- Asking price $4.71M
- 8.00% cap rate
- NOI $376,899
- 16.7 years remaining
- NNN lease
- Year built: 1996
- Building size: 25,993 SF
- Lot size: 16.60 acres
- Lease expiration: May 31, 2043
- Rent increases: 06/01/2028-05/31/2033: $389,895.00 (3.45% increase); 06/01/2033-05/31/2038: $402,891.50 (3.33% increase); 06/01/2038-05/31/2043: $415,888.00 (3.23% increase)
- Guarantor: Corporate
Location
This PetSmart property is at 3950 28th Street SE in Kentwood, Michigan.
Asset type: Retail