2103 Parkview Ave, Kalamazoo, MI 49008 For Sale

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, D&W Fresh Market single tenant grocery investment property located in Kalamazoo, Michigan. The tenant operates under a long-term lease originally commencing November 9, 1998, with the current term extending through December 31, 2031, and three (3) five-year renewal options. The lease features a 10% rental increase effective January 1, 2027, followed by 10% increases at the beginning of each renewal option, providing investors with consistent NOI growth and a hedge against inflation. In addition to base rent, the lease requires the tenant to pay a 5% management fee to the landlord, resulting in total annual income of approximately $505,272 beginning in 2027. The lease structure is NNN, with the tenant responsible for property taxes, insurance reimbursements, maintenance, and operational expenses, creating a passive NNN investment opportunity with limited landlord responsibilities.

The property occupies a signalized hard-corner intersection at Parkview Avenue and Oakland Drive, benefiting from a combined traffic count of approximately 32,000 vehicles per day. The site features strong visibility and multiple points of access along both thoroughfares. The asset is strategically positioned within a dense retail corridor serving the greater Kalamazoo market and is surrounded by numerous national and regional retailers including Meijer, Aldi, Lowe’s, TJ Maxx, Kohl’s, Burlington, Dick’s Sporting Goods, Target, Michaels, Hobby Lobby, Barnes & Noble, and HomeGoods. The property also benefits from proximity to Western Michigan University, Downtown Kalamazoo, and several healthcare and education institutions including Bronson Methodist Hospital and Western Michigan University Homer Stryker M.D. School of Medicine, which contribute significant daytime population and consumer demand to the area. The 5-mile trade area is supported by a population of over 152,000 with an average household income of $88,545.