Main Street East-Office Retail Restaurant Investment

Retail-Commercial for Sale
Catylist Listing ID: 28247737
Property Subtypes: Mixed Use
Building Size (RSF): 47,000 SF
Gross Building Area: See Agent
Gross Land Area: 3.85 Acres
Sale Price: $7,200,000
Unit Price: $153.19 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.18%
Last Updated: 9/13/2016

Overview / Comments

OUTSTANDING INVESTMENT OPPORTUNITY

NOI of $589,006.00

Tenants:
Library Pub.
Japanese One World Market- Over $5 Million in sale for 2014.
Main Street Business Center - 48 unit executive office space with 15 year 90% occupancey track record.
Salon Head West - Long term tenant with stable revenue growth.

280 Car Parking

3.85 Acres

Built in 1997 at a cost of $9,100,000.00


Additional Details

Nearest MSA: Detroit-Warren-Livonia
County: Oakland
Submarket/Township: Central I-96 Corridor
Tax ID/APN: 22-23-176-016
Zoning: BI
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Built: 1997
Legal Description: T1N, R8E, SEC 23 PART OF NW 1/4 BEG AT PT DIST S 735.88 FT & E 1669.87 FT & S 70-51-04 E 439.72 FT FROM NW SEC COR, TH S 70-51-04 E 211.44 FT, TH S 00-18-20 W 425.10 FT, TH S 62-03-16 W 406.94 FT, TH N 00-20-13 E 222.87 FT, TH N 19-08-56 E 489.21 FTTO BEG 3.85 A7-1-96 FR 009

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,835 72,661 199,447
Median Age: 40.23 40.46 42.04
Households: 2,917 29,646 82,212

Contact

Photograph of Listing Agent

Terrance W. Bixler, CCIM

ROC REAL ESTATE CPIX Member
© Copyright Commercial Property Information Exchange (CPIX). All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.