Shopping Neighborhood
Long-Term CVS Anchored Plaza | 88.75% Occupied | Recent Renovations | Detroit Metro
26026 W 12 Mile Rd, Southfield, MI 48034
Listing Price: $4,137,000
Cap Rate
7.51%
Gross SF
26,664
Rentable SF
26,664
Price/Gross SF
$155.15
Lot Size
2.14 acres
Year Built
1988
Investment Overview
Marcus & Millichap is pleased to bring to market the CVS Anchored Shopping Center located in Southfield, MI (Detroit Metro).
Long-Term CVS Anchored Plaza | 88.75% Occupied | Recent Renovations | Detroit Metro
Investment Highlights
- 88.75% Occupied Multi-Tenant Shopping Center with a Strong Tenant Mix | Over $185,000 Invested to Repave the Parking Lot in 2022 | New Roof Installed in 2018
- CVS has Anchored this Center for Over 30-Years and Recently Exercised Another 5-Year Option with Rent Increase
- Average Rent at the Subject Property is $14.81 Per SF, CoStar Suggests Average Market Rent to Be $22.30
- Nearly 1,000 Neighboring Apartment Units within Walking Distance Provide a Built-In Customer Base
- Situated in a Dense Retail and Office Corridor Near Multiple National Retailers Such as Walgreens, Starbucks, Burger King, McDonald's, Meijer, Lowe's, Best Buy, Chick-fil-A, and More
- Positioned a Half Mile from Galleria Officentre, a Major Four Building Class A Office Complex and One Mile From the I-696/US-24 Interchange
- Southfield is an Inner-Ring Suburb of Detroit, Serving as a Major Commercial and Business Hub for the Detroit Metro Area and the Second Largest Business District in Detroit
- Strong Demographics: Population Exceeds 192,400 within Five-Miles and is Projected to Increase by 2027 | Daytime Population Exceeds 248,600
Exclusively Listed By
Broker of Record
-
Steven Chaben
Senior Vice President / Regional Manager
Financing By
Shopping Neighborhood
Long-Term CVS Anchored Plaza | 88.75% Occupied | Recent Renovations | Detroit Metro
Listing Price: $4,137,000
Cap Rate
7.51%
Gross SF
26,664
Rentable SF
26,664
Price/Gross SF
$155.15
Lot Size
2.14 acres
Year Built
1988
Investment Highlights
- 88.75% Occupied Multi-Tenant Shopping Center with a Strong Tenant Mix | Over $185,000 Invested to Repave the Parking Lot in 2022 | New Roof Installed in 2018
- CVS has Anchored this Center for Over 30-Years and Recently Exercised Another 5-Year Option with Rent Increase
- Average Rent at the Subject Property is $14.81 Per SF, CoStar Suggests Average Market Rent to Be $22.30
- Nearly 1,000 Neighboring Apartment Units within Walking Distance Provide a Built-In Customer Base
- Situated in a Dense Retail and Office Corridor Near Multiple National Retailers Such as Walgreens, Starbucks, Burger King, McDonald's, Meijer, Lowe's, Best Buy, Chick-fil-A, and More
- Positioned a Half Mile from Galleria Officentre, a Major Four Building Class A Office Complex and One Mile From the I-696/US-24 Interchange
- Southfield is an Inner-Ring Suburb of Detroit, Serving as a Major Commercial and Business Hub for the Detroit Metro Area and the Second Largest Business District in Detroit
- Strong Demographics: Population Exceeds 192,400 within Five-Miles and is Projected to Increase by 2027 | Daytime Population Exceeds 248,600
Investment Overview
Marcus & Millichap is pleased to bring to market the CVS Anchored Shopping Center located in Southfield, MI (Detroit Metro).
Exclusively Listed By
Broker of Record
-
Steven Chaben
Senior Vice President / Regional Manager
Financing By
