Shopping Strip

Office Depot Center

23420 Allen Road, Woodhaven, MI 48183

Listing Price: $2,147,000

Cap Rate
9.00%
Gross SF
30,000
Rentable SF
30,000
Price/Gross SF
$71.57
Lot Size
3.58 acres
Year Built
1999

Investment Overview

Marcus & Millichap is pleased to present the Office Depot Woodhaven Village Square investment opportunity located at the corner of Allen Road and West Road in Woodhaven, Michigan. Office Depot has been at the center since the end of 1999, and is currently leased through 2024. This offering represents a unique value add opportunity through lease up of the available 12,681-square foot vacant space while capturing strong cash flow via in-place income from Office Depot.

This property is located within the Woodhaven Village Square shopping center. The asset is in-line with The Home Depot and shadow-anchored by Walmart Supercenter. Additionally, the property is across the street from a newly redeveloped neighborhood center anchored by Ashley Furniture. Woodhaven Village Square features excellent visibility and substantial parking space. The corner of Allen and West Roads experienves over 98,000 vehicles per day. The offering is situated in a core retail market with 10.2 million square feet of retail within a five-mile radius. The center is situated within immediate proximity of multiple other major national retailers including, Target, Meijer, HomeGoods, PetSmart, Ulta Beauty, Lowes, Planet Fitness, Michaels, LA Fitness, Kohls, ALDI, among many others. Woodhaven Village Square is strategically located less than two miles from Interstate-75 with over 86,000 vehicles per day.

The property is also located in a great demographic area with over 137,000 people with an average household income exceeding $73,500 within five miles. Woodhaven is located in southern Wayne County 16 miles from Downtown Detroit. Wayne County is the most populous county in Michigan.

Investment Highlights

  • In-Line with The Home Depot and Shadowed by Walmart Supercenter
  • Core Retail Corridor - 10.2 Million Square Feet of Retail Within Five Miles
  • Nearby National Retail - Target, Meijer, Lowe's, LA Fitness, Kohl's, Among Others
  • Excellent Visibility - 98,000+ Vehicles Per Day
  • Office Depot is Leased Through 2024
  • Upside Through Lease Up of 12,681-Square Foot Vacancy
  • Located Within Woodhaven Village Square Shopping Center

Exclusively Listed By

Listing Price: $2,147,000

Cap Rate
9.00%
Gross SF
30,000
Rentable SF
30,000
Price/Gross SF
$71.57
Lot Size
3.58 acres
Year Built
1999

Investment Highlights

  • In-Line with The Home Depot and Shadowed by Walmart Supercenter
  • Core Retail Corridor - 10.2 Million Square Feet of Retail Within Five Miles
  • Nearby National Retail - Target, Meijer, Lowe's, LA Fitness, Kohl's, Among Others
  • Excellent Visibility - 98,000+ Vehicles Per Day
  • Office Depot is Leased Through 2024
  • Upside Through Lease Up of 12,681-Square Foot Vacancy
  • Located Within Woodhaven Village Square Shopping Center

Investment Overview

Marcus & Millichap is pleased to present the Office Depot Woodhaven Village Square investment opportunity located at the corner of Allen Road and West Road in Woodhaven, Michigan. Office Depot has been at the center since the end of 1999, and is currently leased through 2024. This offering represents a unique value add opportunity through lease up of the available 12,681-square foot vacant space while capturing strong cash flow via in-place income from Office Depot.

This property is located within the Woodhaven Village Square shopping center. The asset is in-line with The Home Depot and shadow-anchored by Walmart Supercenter. Additionally, the property is across the street from a newly redeveloped neighborhood center anchored by Ashley Furniture. Woodhaven Village Square features excellent visibility and substantial parking space. The corner of Allen and West Roads experienves over 98,000 vehicles per day. The offering is situated in a core retail market with 10.2 million square feet of retail within a five-mile radius. The center is situated within immediate proximity of multiple other major national retailers including, Target, Meijer, HomeGoods, PetSmart, Ulta Beauty, Lowes, Planet Fitness, Michaels, LA Fitness, Kohls, ALDI, among many others. Woodhaven Village Square is strategically located less than two miles from Interstate-75 with over 86,000 vehicles per day.

The property is also located in a great demographic area with over 137,000 people with an average household income exceeding $73,500 within five miles. Woodhaven is located in southern Wayne County 16 miles from Downtown Detroit. Wayne County is the most populous county in Michigan.

Exclusively Listed By

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