1420-1460 Lawson Dr
Howell, MI 48843
Retail Property For Sale

Marcus & Millichap is proud to present this Kohl's shadow retail center, a 68% multi-tenant retail center, located in Howell, MI. The center was built in 2008. The tenants are on a mix of gross and net leases. Approximately 54% of the center is leased through 2020. The center is anchored by Dollar Tree, which has been at the center since it was built in 2008. They recently extended their lease showing a strong commitment to the area. The center is comprised of two buildings and offers tremendous upside for an aggressive, hands-on investor. The 6,910 square foot outparcel building has and endcap vacancy of 2,740 square feet that is approved for a drive-thru. The main retail center building is approximately 30,000 square feet and is site plan approved for an additional 16,000 square feet. The property has an excellent location off of heavily-traveled I-96 and has direct signage off the expressway. It's close proximity to the highway offers great visibility; approximately 53,700 vehicle per day. Not only is the property shadow-anchored by a Kohl's, but it has an excellent location in a core retail market. There is just under 4.5 million square feet of retail within a 5-mile radius of the subject property. Major nearby national retailers include: Meijer, CVS, Walgreens, The Home Depot, Tractor Supply Company, Harbor Freight, Kohl's, Carson's, Belle Tire, Advance Auto Parts, O'Reilly Auto Parts, Art Van Furniture, Salvation Army, Dunham's, and Big Lots. The property also benefits from great demographics. The population is projected to grow 1.85% by 2021 within a 5-mile radius, and 3.35% within a 1-mile radius of the property. The median household income within a 5-mile radius exceeds $69,000. Genoa Square offers an investor an excellent opportunity to acquire newer asset in a growing market with great upside potential.