Listed by Newmark | Detroit - Southfield, Newmark | Detroit - Farmington Hills
Unpriced
158, 195 & 196 Cesar E Chavez Ave
Details
Property Type Office
Sub Type Traditional Office
Square Footage 205,813
NOI $1,649,994
Occupancy 96.75%
Class C
Year Built 1920
Year Renovated 2007
Stories 5
Acreage 6.720
Office | 205,813 SqFt
Marketing description
For Sale
Investment highlights
- Stable Income The property offers stable income with the OLHSA lease expiring on March 31, 2028 and the PAE lease expiring on June 30, 2029. Furthermore, the buyer will have the ability to assume CMBS debt from the Seller which has a monthly payment of $99,492.69 at a interest rate of 5.65% with a loan maturity of August of 2028. The current loan balance is $10,455,070 as of December 31, 2024.
- Redevelopment Opportunity New ownership presents an opportunity to create a new market position for the property through a capital improvement and redevelopment program. This would build on other nearby successful repositioned properties in Pontiac with the cities incentive programs bringing new infrastructure, living spaces, and new business to the community. Pontiac, strategically located in Oakland County approximately 20 miles north of Detroit, presents a dynamic environment for business growth and investment. The city is leveraging its rich historical background and evolving cultural scene as it undergoes significant economic revitalization. Central to this transformation is the enhancement of the downtown area, introducing new dining, shopping, and entertainment options designed to invigorate the local economy and enrich community life.
- Desirable Access & Location Located just 30 minutes from Downtown Detroit, the Property is situated within a half mile of Woodward Ave with close proximity to majors highways M-59 and I-75. The immediate area is home to many nationally recognized tenants and Fortune 500 companies. Convenient public transportation along with restaurants and shopping are located nearby.
- Prominent Professional Services Market with Exceptional Demographics The property is located within the Pontiac submarket offering a large labor base for corporate tenants and is located in close proximity to some of the State’s most prestigious communities including Birmingham, Bloomfield Hills and Rochester. In addition, Pontiac is home to major operations for numerous large professional companies including Amazon, General Motors, and United Wholesale Mortgage.
- 158 Cesar E Chavez Ave 6,682 SF
- 195-196 Cesar E Chavez Ave 199,131 SF
- Walt
45.5
Months
Listing Contacts
Listed by Newmark | Detroit - Southfield, Newmark | Detroit - Farmington Hills
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$1,649,993.75
$137,499.48/mo
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