Asset Snapshot
Offering Summary
Sam's Club
138,590 SF | Port Huron, MI
Investment Highlights:
The Offering:
Colliers International and RealINSIGHT Marketplace are pleased to present for sale the 100 percent fee simple interest in Sam’s Club (the “Property”) located at 1237 32nd Street, Port Huron, MI 48060.
The Property is equipped with tremendous value extending from the investment grade credit rating of Sam’s Club parent company Walmart Inc. Retail-centric investors will relish at the opportunity to acquire the 138,590 SF Sam’s Club due to its strong investment-grade AA S&P credit rating and favorable Port Huron submarket.
The Property strongly benefits from being located on the northeast corner of the I-69 Business and 32nd Street signalized intersection, in the heart of Port Huron’s community retail trade area. This area’s success relies highly upon anchor tenants Kroger and Big Lots. Furthermore, Sam’s Club has excellent pylon signage on both I-69 Business and 32nd Street, along with great visibility, and two curb cuts on 32nd Street.
Just due east of the Property is 24th Street, which is host to a Kroger, Dollar General, Chase Bank, and Advance Auto Parts. Highly volumized transportation methods are opportunely situated in close proximity to the Property. I-69 experiences 6,039 vehicles per day and 24th Street experiences 12,651 vehicles per day.
Sam’s Club is the only warehouse club in the market; the next closest competitor is a Costco 35 miles away in Shelby. The estimated population within five miles of the Property is 61,532. Catering to a large local population with no other warehouse clubs in the general vicinity gives Sam’s Club a competitive edge in the market. Also, the Property is equipped with a 12-pump gas station which is a tremendous convenience for shoppers and local residents. Sam’s Club has a long operating history at the subject Property and recently extended its lease until 11/30/2023. Advantageous to a future owner, the extended lease is under an absolute net lease structure which provides for minimal landlord responsibilities.
Overall, the Property presents a prime retail investment opportunity for a new owner to procure a long-standing and successful Sam’s Club in the core of Port Huron’s retail district. The combination of an excellent credit rating/brand, strategic market positioning, and a recent lease-extension establishes the Property as a highly appealing investment opportunity.
Due Diligence
Platform Fee
Buyer pays a minimum platform fee of 5% or $25,000 at closing.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
