Coldwater Center - Walmart & Home Depot Shadow
Walmart, Home Depot, & Aldi Shadow Retail Center | 32,125 SF | 45,000 VPD
Marketing description
Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire 100% fee simple interest in the Coldwater Center, (“The Property”), a 32,125 square foot neighborhood retail shopping center located in Coldwater, Michigan.
Shadow anchored by Home Depot, Walmart, and Aldi, the Property is perfectly positioned at the epicenter of the Coldwater retail corridor and features a complementary mix of ecommerce resistant, service-oriented tenants with 54% of the GLA consisting of National Credit Tenants including Dollar Tree, T-Mobile, Spectrum, Edward Jones, Great Clips, and Verizon. The tenant lineup boasts strong historical occupancies with attractive contractual rent increases and staggered lease expirations.
Built in 2007 / 2015 on a 3.9-acre site, the 100% occupied Property consists of three buildings totaling 32,125 square feet and benefits from its strategic positioning at the entrance to Home Depot and Aldi with direct access to their neighboring parking lots creating convenient cross shopping synergies.
Situated along E Chicago St, the Center is immediately East of Interstate-69 (I-69), the trade area’s arterial thoroughfare with combined average traffic counts of over 45,000 vehicles per day.
The Property is in excellent condition and features a high-end modern façade, carefully groomed landscaping, and prominent monument and pylon signs. All tenants include triple net lease structures with each tenant being responsible for its proportionate share of real estate taxes, insurance, and common area maintenance.
The Property is being offered free and clear of debt at 7.60% cap rate totaling $5,261,200.
Investment highlights
HOME DEPOT & WALMART SHADOW ANCHORED - Positioned At The Entrance To A Home Depot & Aldi Community Shopping Center And Directly Across The Street From Walmart Supercenter Supplying Constant Consumer Traffic and Cross Shopping Synergies
NATIONAL CREDIT TENANT MIX - 54% Of The GLA Consisting Of National Credit Tenants Including Dollar Tree, T-Mobile, Spectrum, Edward Jones, Great Clips, And Verizon
DOMINANT LOCATION WITH EXCELLENT ACCESS & VISIBILITY - Direct Access And Visibility On E Chicago St, The Center Is Immediately East Of Interstate-69 (I-69), The Trade Area’s Arterial Thoroughfare With Combined Average Traffic Counts Of Over 45,000 Vehicles Per Day.
EXCELLENT PROPERTY CONDITION - The Property Is In Excellent Condition And Features A High-End Modern Façade, Carefully Groomed Landscaping, And Prominent Monument And Pylon Signs And A Brand New Roof In 2025, Under Warranty Through 2035
TRIPLE NET LEASE STRUCTURES - All Tenants Includes Triple Net Lease Structures With Each Tenant Being Responsible For Its Proportionate Share Of Real Estate Taxes, Insurance, And Common Area Maintenance
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