Shopping Center for Sale
Catylist Listing ID: 29995089
Property Subtypes: Mixed Use, Net Leased, Strip Center
Building Size (RSF): 4,992 SF
Gross Building Area: See Agent
Gross Land Area: 0.61 Acres
Sale Price: $1,850,000
Unit Price: $370.59 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 9.31%
Average Occupancy Rate: 100
Last Updated: 4/18/2018

Overview / Comments

This two-tenant net leased investment includes national credit tenants; Sprint, Jimmy John's McDonald's (easement agreement). Sprint and Jimmy John's have leases that don't expire until 2023! The subject is located at the southwest corner of 12 Mile Road and Mound Road. The site provides for excellent traffic counts and is positioned across from GM's Tech Center!

Two Property Investment Sale! This is an exceptional two property portfolio that boast a strong tenant roster in a growing market. This package deal includes one 7,990 Sq. Ft. two tenant office building and a 4,992 Sq. Ft. two tenant retail strip center, both 100% occupied. This package deal provides for blended cap rate of 9.310%. Upon request a full investment package is available for review. Speak to your lender about exact mortgage rate and terms.

1.) 5870 East 12 Mile Road, Warren
Tenants: Sprint, Jimmy John's, and McDonald's (easement agreement)

2.) 520 E. 12 Mile Road Madison Heights
Tenants: CPA office (willing to sign new 5 year lease at closing), and a Physical Therapy just expanded now occupying 2,500 Sq. Ft.!

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Macomb
Submarket/Township: Macomb West
Tax ID/APN: 13-17-226-045
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Other
Property Located Between: Southwest Corner of 12 Mile Road and Mound Road
Property Visibility: Excellent
Largest Nearby Street: Mound Road
Feet of Frontage: 240
Traffic/Vehicle Count: 80,000
Highway Access: I-696 one mile south.
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1988
Roof Type: Flat
Parking Type: Surface
Lot Frontage: 240
Lot Depth: 111
Water Service: Municipal
Land Ownership: Owned
Legal Description: #1.) SEC 17; COM AT NE COR SEC 17; TH N89*59'59"W 102.0 FT ALG N SEC LINE; TH S0*14'15"W 60.0 FT TO POB; TH CONT S0*14'15"W 110.0 FT ALG W LINE MOUND RD; TH N89*59'59"W 243.0 FT; TH N0*14'15"E 110.0 FT; TH S89*59'59"E 243.0 FT ALG S LINE 12 MILE RD TO POB. 0.6 136 A. #2.) T1N, R11E, SEC 13 WILLSON LAWN SUB LOTS 149 TO 158 INCL, ALSO 1/2 VAC OSMUN AVE ADJ TO SAME, ALSO 1/2 VAC ALLEY ADJ TO SAME 1-11-05 FR 002 & 003

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,016 139,589 419,794
Median Age: 41.77 41.37 38.42
Households: 3,548 58,025 168,787
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