Love’s Furniture-Muskegon, MI - 630 Seminole Rd, Norton Shores, MI 49441, USA

Love’s Furniture-Muskegon, MI

630 Seminole Rd, Norton Shores, MI 49441, USA
$ 7,500,000.00
Cap Rate: 8.25 %
Status: Available

Details

Asking Price: $ 7,500,000.00
  • Year built: 1987
  • Square Footage: 39642 sq ft
  • Land Size (acres): 4.17
  • Occupancy (%): 100
  • Parking (spaces): 30
  • Lease Type: NNN
  • Lease Term (Years): 20
  • Cap Rate (%): 8.25
  • Renewal Options: Available
  • NOI: $ 618,750.00

Marketing Description

This property will be the new home of Love’s Furniture.  Love’s Furniture will be a new and refreshing take on the furniture retail business, and will be a premier destination for homeowners looking to refurnish their homes with quality furniture at excellent prices.  Founder and president of US Assets, Jeff Love, purchased the former Art Van Furniture stores, and is anticipating a soft opening in June 2020.

Loves Furniture now has about 30 employees, the vast majority of whom were part of the Art Van staff, including CEO Matthew Damiani.  Love’s will be creating over 1,000 new jobs, including bringing back many of those employees who were laid off when the Art Van brand closed all locations.

Founder Jeff Love called the acquisition “ a tremendous milestone for our company, our associates and for the communities we serve.”   Love’s Furniture will create exciting new retail options for customers who have been looking for a more modern shopping experience.

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USRealty Co, specializing in absolute triple net lease opportunities

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Tenant Overview

  • Tenant: Love’s Furniture

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