Listed by Mid-America Real Estate - Michigan, Inc., Mid-America
$8,088,128
44987 Schoenherr Rd
Details
Property Type Retail
Sub Type Commercial
Square Footage 17,330
Cap Rate 6.25%
NOI $505,508
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Expiration 11/29/2029
Remaining Term 3.6
Year Built 1979
Year Renovated 2014
Acreage 1.860
STNL Henry Ford OptimEyes
Marketing description
Mid-America Real Estate-Michigan, Inc. has been retained
on behalf of ownership to sell the 100% fee simple interest
in 1.86 acres of land with a 17,330 square foot building in
Sterling Heights, Michigan that is fully occupied by Henry Ford
OptimEyes. The property is positioned along Metro Detroit’s
busiest retail corridor, at the southwest corner of Hall Road
(M-59) and Schoenherr Road featuring over 125,000 vpd at the
intersection. This is a rare opportunity to own one of the most
prominent corners in all of Michigan.
Investment highlights
- Prominent Corner: The subject property is ideally positioned at southwest corner of Hall and Schoenherr Roads, featuring over 125,000 vehicles per day traveling along the intersection. Hall Road, is one of the busiest intersections in all of Metro Detroit and dubbed the “Golden Corridor” because of its immense economic impact in Macomb County and Metro Detroit
- Amazing Visibility and Access: Amazing visibility from both Hall and Schoenherr Roads, the property is easily detectable for tenants’ customers. In addition to the strong visibility, there are several points of ingress and egress from the property, including 2 points (one with a traffic signal) on Hall Road and 3 points on Schoenherr Road.
- Dominant Retail Corridor: The corridor is the major east-west commercial corridor in Sterling Heights and Macomb County. The Sterling Heights section of Hall Road is one of the busiest retail corridors in Michigan, lined with big-box stores, restaurants, auto dealerships, shopping centers and entertainment venues. The country’s biggest retailers who reside along the corridor include Costco, Target, Whole Foods, Home Depot, Walmart, Sam’s Club, Total Wine, Petco, DSW, Hobby Lobby, Dick’s Sporting Goods, Michael’s, and many more. Hall Road is also home to many national QSRs and sit-down restaurants including Chick-fil-A, Jollibee, Portillo’s, McDonald’s, Starbucks, Olive Garden, Outback, Shake Shack, Longhorn Steakhouse, Ford’s Garage, and more
- Dense Residential Customer Base: This Henry Ford Health OptimEyes is located in the heart of Sterling Heights, a vibrant and affluent community in Metro Detroit. The city is known for its dense neighborhoods, strong economy, and business-friendly environment. Within 5-miles of the property the residential population reaches over 230,000 people, with an average household income of $109,243. Furthermore, healthy growth is projected over the next 5 years, with the population expected to grow by .49% within a 1-mile radius.
Listing Contacts
Listed by Mid-America Real Estate - Michigan, Inc., Mid-America
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$505,508.00
$42,125.67/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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