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: $7,500,000
Unit Price: $159.57 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.18%
Last Updated: 2/13/2017

Overview / Comments


NOI of $589,006.00

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


Photograph of Listing Agent

Terrance W. Bixler, CCIM

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