Shopping Neighborhood

23 Mile & Van Dyke Plaza

51185 Van Dyke Ave, Shelby Charter Township, MI 48316

Listing Price: $925,000

Cap Rate
4.84%
Gross SF
5,000
Rentable SF
5,000
Price/Gross SF
$185.00
Lot Size
1.00 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to present a 5,000 square foot value-add retail plaza on the out lot of Big Lots located at the intersection of 23 Mile Road and Van Dyke Road in Shelby Township, MI, a northern suburb of metro Detroit. The subject property was built in 2005. The three tenant center is occupied by a salon (15 year operating history) and Biggby Coffee, both endcaps with Biggby having a drive-thru lane. The interior 1,584 square foot suite is currently vacant, providing significant upside for a new owner given the limited available retail space fronting Van Dyke Road (ADTC- 24,000). Big Lots has operated at this location since 2004 and recently remodeled the store and upgraded the parking lot lights, an indication of their long term commitment at this location. Nearby retailers and restaurants include: Planet Fitness, Advance Auto Parts, Rite Aid, Tim Hortons, T-Mobile, Taco Bell, Burger King, and McDonalds (abutting the property). One mile west of the property is a newly developed one million square foot Amazon Distribution Center.
The free-standing Big Lots on a NNN lease with 8+ years of term is for sale. Contact agent for details.

Investment Highlights

  • All Brick Construction - Low Maintenance
  • Value Add With Vacant Suite
  • Biggby Coffee With Drive-Thru
  • Out Lot of Big Lots
  • Median Household Income - $81,000
  • 2nd Fastest Growing Township in Macomb

Exclusively Listed By

Shopping Neighborhood

23 Mile & Van Dyke Plaza

Listing Price: $925,000

Cap Rate
4.84%
Gross SF
5,000
Rentable SF
5,000
Price/Gross SF
$185.00
Lot Size
1.00 acres
Year Built
2006

Investment Highlights

  • All Brick Construction - Low Maintenance
  • Value Add With Vacant Suite
  • Biggby Coffee With Drive-Thru
  • Out Lot of Big Lots
  • Median Household Income - $81,000
  • 2nd Fastest Growing Township in Macomb

Investment Overview

Marcus & Millichap is pleased to present a 5,000 square foot value-add retail plaza on the out lot of Big Lots located at the intersection of 23 Mile Road and Van Dyke Road in Shelby Township, MI, a northern suburb of metro Detroit. The subject property was built in 2005. The three tenant center is occupied by a salon (15 year operating history) and Biggby Coffee, both endcaps with Biggby having a drive-thru lane. The interior 1,584 square foot suite is currently vacant, providing significant upside for a new owner given the limited available retail space fronting Van Dyke Road (ADTC- 24,000). Big Lots has operated at this location since 2004 and recently remodeled the store and upgraded the parking lot lights, an indication of their long term commitment at this location. Nearby retailers and restaurants include: Planet Fitness, Advance Auto Parts, Rite Aid, Tim Hortons, T-Mobile, Taco Bell, Burger King, and McDonalds (abutting the property). One mile west of the property is a newly developed one million square foot Amazon Distribution Center.
The free-standing Big Lots on a NNN lease with 8+ years of term is for sale. Contact agent for details.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower