25377-25397 Schoenherr Rd - Storefront FOR SALE


Warren, MI 48089- Southeast Warren
$3,450,000 USD
248-538-2000
25377-25397 Schoenherr Rd, Warren, MI for Sale
$3,450,000 USD
Storefront - FOR SALE
1/5
null | 6.15% Cap Rate

25377-25397 Schoenherr Rd
Warren, MI 48089
Southeast Warren


HIGHLIGHTS

  • The property is situated on a pad site adjacent to a 155,000 SF Meijer Supercenter at the northwest corner of Ten Mile and Schoenherr Roads in Warren.
  • Stable asset with long-term leases, featuring a weighted average lease term (WALT) of just over six years across four leases.
  • Current leases include rental increases during the primary lease terms, which provides potential upside for the asset.
  • Dunkin’ Donuts and Taco Bell both operate on a pad site adjacent to the Meijer along Ten Mile Road.

OVERVIEW

25377 - 25397 Schoenherr Road is situated on a pad site adjacent to a 155,000 SF Meijer Supercenter at the northwest corner of Ten Mile and Schoenherr Roads in Warren, Michigan. Stable asset with long-term leases, featuring a weighted average lease term (WALT) of just over six years across four leases. Current leases include rental increases during the primary lease terms, which provides potential upside for the asset. The Meijer Supercenter ranks in the top 77% nationwide, with over 2.1 million customers visiting this location in 2023. Great Clips ranks in the top 75% nationwide and top 80% in the State of Michigan with over the past 12 months. Dunkin’ Donuts and Taco Bell both operate on a pad site adjacent to the Meijer along Ten Mile Road. - The surrounding area features a dense residential population and a robust workforce, with numerous industrial and office buildings along Groesbeck Highway (M-97).

FOR SALE DETAILS

PRICE

$3,450,000 USD

PRICE/SF

$442 USD /SF

CAP RATE

6.15%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

53

LAND DETAILS

LAND ACRES

1.58 AC

LAND SF

68,825 SF

ZONING

C-2

APN/PARCEL ID

12-13-23-476-014

ASK ABOUT THIS PROPERTY

Andrew RoyeCMP Real Estate GroupMore Info
248-538-2000

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Andrew RoyeCMP Real Estate GroupMore Info
248-538-2000

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