4290 Lake Michigan Drive, Grand Rapids, MI 49534 For Sale

LEASE TERM: Lovet Pet Health Care has 6+ years remaining on their lease followed by three (3), 5-year renewal options. The Property was constructed for the tenant and features an attractive architectural design.

ATTRACTIVE RENT INCREASES: The lease features an attractive 6.7% rental increases in year 6 of the initial term and 8% increases at the start of each renewal option period, providing an attractive increase in revenue and a hedge against inflation.

MINIMAL LANDLORD RESPONSIBILITIES: Lovet Pet Health Care reimburses for real estate taxes, insurance and common area maintenance, protecting against rising expenses. Lovet Pet Health Care has a 5% cap on increases in controllable operating expenses. The Double-Net lease structure leaves the Landlord responsible for the building’s roof & structure.

STRATEGIC RETAIL LOCATION: Lovet Pet Health Care is strategically positioned along Lake Michigan Drive (MI Route 45), a primary commercial and commuter corridor. The Property offers excellent frontage and visibility and is situated in a commercial node on the west side of Grand Rapids. The surrounding area features a mix of national and local retailers, dining options, and service providers, further supported by nearby residential neighborhoods, area schools, and employment centers that contribute to a consistent customer base and commuter activity. The Property also provides convenient regional access via Interstate 196, Interstate 96, and US Route 131, offering efficient connectivity throughout Grand Rapids and the broader Eastern Michigan region.

DYNAMIC TENANT: Lovet Pet Health Care is a growing network of veterinary hospitals providing comprehensive, and accessible care, including urgent, preventative, dental, and surgical services for cats and dogs. Formerly known as AZPetVet with over 40 years of experience, Lovet rebranded in 2022 following a partnership with TAG – The Aspen Group, expanding its locations in Arizona, Illinois, and Michigan.

TRAFFIC COUNTS: Over 36,900 vehicles pass the Property daily along Lake Michigan Drive (MI Route 45) and more than 21,900 vehicles pass nearby along Wilson Avenue.

DEMOGRAPHICS: More than 31,100 people live within 3 miles of the Property with an average household income of $109,710. More than 104,900 people live within 5 miles of the Property with an average household income of $99,169. Additionally, there are more than 54,300 employees within 5 miles of the Property.

RETAIL TRADE AREA: The Property is positioned near established businesses, national and regional retailers, and restaurants including Meijer, Aldi, Family Fare Supermarket, Walgreens, Dollar General, Valvoline, Napa Auto Parts, Advance Auto Parts, Applebee’s, Panera, Chick-fil-A, Starbucks, McDonald’s, Wendy’s, Taco Bell, Arby’s, Jimmy John’s Freddy’s, Tropical Smoothie, Pizza Hut and Subway.