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27192966
27192967

5951 Mercury Dr, Dearborn, MI 48126

PS
TX 761511
Matthews
CK
CA 01911198
Matthews
Listed by Matthews
$13,852,000
252 days on market
Updated 3 days ago

The Home Depot

Details
Property Type Retail
Sub Type Storefront
Square Footage 111,805
Cap Rate 5.65%
NOI $782,635
Tenancy Single
Brand/Tenant Home Depot
Lease Type NNN
Lease Term 25
Lease Expiration 01/31/2028
Remaining Term 3
Rent Bumps Yes
Lease Options Eight, 5-Year Options
Price per SqFt $124
Broker Co-Op Yes
Year Built 1993
Buildings 1
Stories 1
Acreage 12.900
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 10/15/1993
Ground Lease No
Ownership Fee Simple

Strong National Credit Tenant — 5.65% Cap, 111,805 SF, 2.5 Years Remaining + Options

Investment highlights

  • Exceptional Credit Tenant – The Home Depot is the largest home improvement retailer in the world with about 500,000 employees and over 2,300 stores located in U.S., Canada, and Mexico. For the fiscal year of 2024, The Home Depot boasted sales of over 159 billion dollars and earnings of over 14 billion dollars while maintaining their A Credit rating.

  • Excellent Retail Synergy – Fairlane North shopping center demonstrates excellent retail synergy through the site’s strong shadow anchored tenants. These retailers include Walmart, Value City Furniture, Forman Mills, Launch Family Entertainment, and Crunch Fitness.

  • Strong Traffic Counts and Visibility – The site sits within an extremely dense residential corridor on the northwestern side of Dearborn MI and possesses strong traffic counts along Southfield Freeway (153,485 Vehicles Per Day) and Ford Road (64,570 Vehicles Per Day).

  • Surrounding Demographics – Dearborn MI is home to the Ford Motor Company’s world headquarters and The University of Michigan-Dearborn (8,104 students) allowing the city to boast very dense middle-class demographics. In a five-mile radius of the site, the city of Dearborn contains a population of 359,020 people and an average household income of $63,103.

  • Top Performing Store Per PLACER.AI – This store ranks in the top 6% in the state of Michigan, and top 19% nationwide of all the store metrics currently tracked by Placer AI. Contact Broker for more details.

  • Recent Lease Extension – In 2020 the tenant extended their lease an additional 8 years showing their commitment to the location, with 2.5 years remaining and eight, 5-year options.

Listing Contacts

PS
TX 761511
Matthews
CK
CA 01911198
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$782,635.00
$65,219.58/mo

Valuation Metrics

0
DSCR
5.65%
Cap Rate
5.65%
ROI

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Additional Information

Name
Matt Fitzgerald
License
6502432668, 6505432273 (MI)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
1600 West End Ave, Ste. 1500 Nashville, TN 37203
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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