AVIS/BUDGET RENTAL CAR
Office | 8.29% CAP | 5,279 SqFt
Marketing description
An excellent covered land play, this site is .47 acres and has a 679-square-foot building leased to Avis/Budget Rent-A-Car with a 30-car parking area, and a Vacant 4,600-square-foot office building with a dedicated 15 car parking lot. Market Rent for Office Rent is between $18 - $22 price per square foot plus triple-net. Upside for a replacement tenant at Market Rent or an Owner/User Opportunity for the 4,600-square-foot office building. Long Term Redevelopment Opportunity on 0.47 Acres. on Woodward Avenue with over 90,000 Cars Per Day.
Over 350,000 people within five miles of the subject property. Less than 1.5 miles from Downtown Royal Oak and Oakland Community College, with approximately 14,000-plus students. Woodward Avenue and Royal is the home to the "Dream Cruise", "Arts Beats and Eats" and numerous other community events.
Investment highlights
- Avis/Budget Rent A Car & Vacant 4,600-Square-Foot Office are Available for Sale. Great Opportunity for an Owner/User or Investor Looking to Take Advantage of this Covered Land Play
- Long Term Occupancy since 2008 with Annual Rent Increases Including each Year of the One-Five-Year Option Period. Vacant 4,600-Square-Foot Office Building has Dedicated 15 Car Parking Lot on Site
- Just Under a Half-Acre with Over 90' of Woodward Frontage this Property Represents a Covered Land Play with Existing Income and Built in Upside for a ReDevelopment or Leasing of the Vacant Office
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