26890 Adell Center Dr - Auto Dealership FOR SALE


Novi, MI 48375
$9,173,000 USD
480-221-4221
26890 Adell Center Dr, Novi, MI for Sale
$9,173,000 USD
Auto Dealership - FOR SALE
1/9
null | 6.75% Cap Rate

26890 Adell Center Dr
Novi, MI 48375


HIGHLIGHTS

  • Approximately 17 Years Remaining | Options To Extend | Well Known & Established Tenant
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Recent Stock Surge (NYSE: CVNA) | 500% Increase in the Past Year
  • Interstate 96 (152,000 VPD) | Centeralized Location | Multiple Nearby Apartment Complexes
  • Twelve Oaks Mall (93rd Percentile per Placer.Ai) | Strong National/Credit Tenants | Dense Retail Corridor
  • Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding Carvana investment property located in Novi, Michigan (Detroit MSA). The tenant, Carvana, LLC has approximately 17 years remaining with 4 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features increases equal to the lesser of (i) 7.92337% or (ii) 1.25x CPI throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

FOR SALE DETAILS

PRICE

$9,173,000 USD

PRICE/SF

$1,608 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Carvana | 17yrs Remain Corp Abs NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Dealership

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

51

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

General Commercial

APN/PARCEL ID

22-15-478-008

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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