Beacon Square

Grand Haven | MI (Grand Rapids MSA)

Offering Summary

  • Status: active
  • Price: $4,575,000
  • CAP Rate: 6.75%
  • GLA: 12,372 SF
  • Net Operating Income: $308,851
  • Price/SF: $370
  • Year(s) Built: 2005
  • Major Tenants: Starbucks, Tropical Smoothie Cafe, Don Luis Mexican Grill and Bar, Galactic Toys, Wild Bills Tobacco
  • Fully Occupied 12,372 SF Starbucks-Anchored Strip with Six Tenants on NNN Leases
  • Irreplaceable 72,000 VPD “Main & Main” Location with 13 Lanes of Traffic
  • Starbucks Occupies Endcap with Drive-Thru | Only Traditional Starbucks in Grand Haven | Next Nearest = 7 Miles Away | Recent 5-Year Renewal
  • Below-Market Rents: $22.24/SF Avg. for Non Drive-Thru Units; $41/SF for End-Cap Drive-Thru
  • 5 of 6 Tenants have either 2%/Annual or 10% – 12%/5-Yrs Rent Increases
  • 100% NNN Lease Structure with 100% Reimbursement of Tax/Ins/CAM/Mgt Expenses + Additional $5k of Admin Income/NOI
  • Galactic Toys: Drastically Below-Market $17/SF Rent on 2,400 SF Endcap (19% of GLA) | Out of Options/Control 1/2029
  • National/Regional Lineup Includes Starbucks, Tropical Smoothie Cafe, & Wild Bill’s Tobacco
  • Durable Daily-Needs & Vacation-Town Tenancy: Coffee, Food (x2), Nails, Tobacco
  • Outparcel to Home Depot, Staples, and West Marine – Positioned at the Primary Entrance
  • Excellent Fundamentals: 4 Rows of Parking / Uninhibited Visibility / Small Bays / Eye-Catching Storefront Designs
  • Grand Haven Harbor Draws Over 2 Million Visitors Annually | Top-2 Ranked Freshwater Beach in America (USA Today)
  • High-Income Trade Area: AHHI of $89K–$103K in 1/3/5-Mile Radii
  • Easy-to-Lease Inline Small Shops | Four Endcaps for Maximum Tenant Exposure
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director