1040 W 9 Mile Rd - Convenience Store FOR SALE


Ferndale, MI 48220
$1,050,000 USD
248-702-0288
1040 W 9 Mile Rd, Ferndale, MI for Sale
$1,050,000 USD
Convenience Store - FOR SALE
1/6
null | 4.13% Cap Rate

1040 W 9 Mile Rd
Ferndale, MI 48220


HIGHLIGHTS

  • Huge Increase Rent Potential at Renewal Options with no cap on CPI
  • Absolute NNN Lease w/ no Landlord Obligations
  • Investment Credit Corporate Guarantee by 7-Eleven holding an “A” Credit Rating with a $29 Billion Market Cap
  • Low occupancy Cost & Low Rent to Sales Ratio
  • Traffic Counts Exceed 36,000+ Cars Per Day & Located at Signalized Intersection of W 9 Mile Road & Pinecrest Road
  • Downtown Ferndale Street Neighborhood Retail Location w/ Over 360,000+ Population in a 5 Mile Radius

OVERVIEW

Huge Increase Rent Potential at Renewal Options with no cap on CPI - Base CPI from 2019 minimum 21% increase plus Assuming a Conservative 2% annual CPI resulting in 34% Increase at next Renewal and 48% Increase in Last Renewal Absolute NNN Lease w/ no Landlord Obligations Investment Credit Corporate Guarantee by 7-Eleven holding an “A” Credit Rating with a $29 Billion Market Cap Low occupancy Cost & Low Rent to Sales Ratio Traffic Counts Exceed 36,000+ Cars Per Day & Located at Signalized Intersection of W 9 Mile Road & Pinecrest Road Downtown Ferndale Street Neighborhood Retail Location w/ Over 360,000+ Population in a 5 Mile Radius Long Term Occupancy Since 2009 and Recent Lease Renewal

FOR SALE DETAILS

PRICE

$1,050,000 USD

PRICE/SF

$407 USD /SF

CAP RATE

4.13%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7 - Eleven

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,117 SF

ZONING

BI

APN/PARCEL ID

25-28-479-004

ASK ABOUT THIS PROPERTY

Deno BistolaridesEncore Real Estate Investment ServicesMore Info
248-702-0288

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Deno BistolaridesEncore Real Estate Investment ServicesMore Info
248-702-0288

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.