Buick City Center
Retail | 9.12% CAP | 50,100 SqFt
Marketing description
Mid-America Real Estate – Michigan is pleased to present the opportunity to acquire a 50,100-square-foot, value-add shopping center in Flint, Michigan. Currently 78% occupied, the center offers a strong mix of tenants and is strategically positioned along Miller Road, the market’s primary retail corridor, just west of the I-75 entrance and exit ramp. Tenants include Guitar Center, Epic Gymnastics, Ross Education, and one available space. Anchored by Best Buy and Dunham’s, the site benefits from excellent retail synergy that supports tenant attraction and retention. The Flint market is highly populated, with over 120,000 residents within a 5-mile radius and more than 30,000 vehicles passing daily along Miller Road.
Value-Add Opportunity | Lease-Up Upside: The property presents a compelling value-add opportunity with approximately 22% of GLA currently vacant, offering an investor the ability to drive immediate NOI growth through strategic lease-up. At stabilization, the incremental rent from vacant space translates directly to meaningful cap rate compression and asset appreciation.
Well Positioned on a Busy Retail Corridor: The Miller Road corridor is the prime regional retail trade area of Genesee County. The corridor is home to many national tenants including Target, Best Buy, Dunham’s, Barnes & Noble, DSW, Petsmart, Old Navy, Hobby Lobby, Ashley Furniture Store + Outlet, Planet Fitness, Burlington, Ross, and many more. It also features many national restaurant chains such as Texas Roadhouse, Red Robin, Olive Garden, Famous Dave’s BBQ, and Applebee’s; as well as any fast feeders including Chick-fil-A, Starbucks, Culver’s, McAlister’s Deli, Chipotle, and Panda Express among others.
Ease of Access: The subject property has great access from Miller Road and Lennon Road, with a combined five points of access. Miller Road is anchored by the I-75 and I-69 interchange, which provides a regional draw from all over Genesee County. Situated directly on Miller Road, the property is less than 4 miles from the heart of downtown Flint. In addition to easy highway access, the subject property is in close proximity to the Bishop International Airport, which has over 500,000 annual passengers.
General Motors Flint: The subject property is situated in close proximity to the General Motors Flint Assembly Plant and Flint Metal Center. The GM Flint Assembly Plant currently employs over 5,000 people and is undergoing a $788 million investment to enhance its production capabilities for future generation. GM is also investing $233 million into the Flint Metal Center
Investment highlights
- Parking: Surface lot
- Ownership Type: Fee Simple
- Value Add Opportunity: The 11,161 SF vacancy provides room for a future owner to increase NOI through leasing the vacant space.
- Great Retail Synergy: Miller Road is the dominant corridor of the Flint Market, making it possible to land a national tenant to backfill the remaining vacancy or any future vacancy
- Co-Tenant’s Strength: In addition to the strong tenant lineup at the subject
property, the overall site includes other national retailers such as Best Buy,
Dunham’s and Office Depot.
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