Trophy Retail Center - Immediate Value-Add Opportunity
Trophy Shopping Center - Prime Retail Corridor in Grand Haven, MI
Marketing description
Trophy Retail Center presents a rare opportunity to acquire a premier 40,428-square-foot trophy retail asset strategically positioned along the highly trafficked US-31/N Beacon Boulevard corridor in Grand Haven, Michigan. Anchored by a strong mix of national and regional tenants, including Dollar Tree, O’Reilly Auto Parts, Wingstop, Jet’s Pizza, and Walgreens (not included in the sale), the center benefits from exceptional visibility, robust traffic counts exceeding 76,000 vehicles per day at the nearby intersection, and proximity to one of Michigan’s most popular tourist destinations attracting over 2.1 million annual visitors. Situated on 4.12 acres in a thriving retail hub, the property offers stable in-place cash flow, a diverse tenant roster, strong rent-to-sales performance, and a proven operating history, making it an attractive long-term investment with a 6.75% cap rate and significant upside potential in one of West Michigan’s most dynamic lakeshore markets.
Investment highlights
- Trophy retail center consisting of 40,428 SF on 4.12 acres in Grand Haven's premier retail corridor.
- Located at a signalized intersection with more than 76,500 vehicles per day, providing exceptional visibility and accessibility.
- Diverse tenant mix featuring national and regional retailers, including Dollar Tree, O'Reilly Auto Parts, Wingstop, Jet's Pizza, and Verizon.
- Brand New Roof on Entire Shopping Center (Mid 2023) with a 20-Year Transferable Warranty.
- 96.5% occupied with only 1,412 SF of vacancy, offering immediate value-add and NOI growth potential.
- Long-term leases extending through 2028-2035 provide stable and predictable cash flow.
- Less than one mile from downtown Grand Haven and Lake Michigan, benefiting from more than 2.1 million annual visitors.
- Strong demographics with approximately 29,199 residents, 13,037 households, and $98,031 average household income within a three-mile radius.
- Offered at approximately $172/SF with NNN leases and an in-place NOI of $470,000.
- Strategically positioned among an impressive lineup of nationally recognized retailers, including Home Depot, Staples, Advance Auto Parts, West Marine, Walgreens, Wendy's, Applebee's, Verizon Wireless, Starbucks, Popeyes Louisiana Kitchen, Culver's, Jimmy John's, and numerous other leading brands
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