138,590 SF | Port Huron, MI
- Single-Tenant Sam’s Club guaranteed by Wal-Mart Stores, Inc.
- Sam’s Club has an absolute net lease structure, providing favorable terms for the Landlord
- Sam’s Club has a strong operational history at the Property, originally opening their doors in 1992
- There are no other competitive warehouse clubs in the market, giving Sam’s Club a competitive edge in Port Huron
- Sam’s Club also operates a Sam’s Club Gas Station, demonstrating their long-term commitment to the Property
- The Property is located at the hard corner and signalized intersection of Business Route 69 and 32nd Street, providing excellent access, visibility, and signage.
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.