Cap rate 7.38%. Long term original tenant in place since 1990 over 25 years. Building has original 20 year lease with four 5-yr options with rent bumps. Tenant exercised two options early giving new owner a total of approx. 9.5 years from closing evidencing tenants commitment to this location. The Nearest Rite Aid is approx. 3.04 mi away and Walgreens is approximately 3.07 miles away. Recently exercised 2 extensions early for total of 9.5 years remaining. High density Detroit MSA with population of 440,000 + within 5 miles. Signalized hard corner location with high traffic counts. Extra parking lot space is included in this offering which maybe buildable for another approximately 6000 sf building. NOTE: Property is net leased (NN) with landlord responsible for structure. *Tenant responsible to maintain roof, utilities, maintenance, & property taxes. See offering memorandum and lease for details.
GREAT LOCATION, BUILDING THAT CAN BE USED FOR ALL PURPOSES INDOOR GREENHOUSE, INCLUDES 2 CRANES WEIGHING AT ABOUT 25 TONS WHICH ARE FROM THE BEGINNING OF THE BUILDING TO THE END OF IT. HAS AN ELECTRIC 380 M4 ZONING HEAVY INDUSTRIAL. ALSO HAS 9 BAYS AT 14 FT. HIGH. THE BUILDING ALSO HAS 11 OFFICES...
MLS ID 217033542
Listing Agent: David H Brooks III
Courtesy of: Keller Williams Rlty Northville Mkt Ctr
Office Phone: (248) 380-8800
Updated: 20th September, 2017 1:10 PM.
13939 LIVERNOIS Avenue Detroit, MI