Listed by Altitude Commercial Real Estate
$4,625,000
New Orleans Mall
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 20,239
Units 14
Cap Rate 7.22%
NOI $333,833
Occupancy 95.41%
Tenancy Multi
Buildings 2
Acreage 2.480
Zoning B-3
Investment Type Value Add
Ground Lease No
Retail | 7.22% CAP | 20,239 SqFt
Marketing description
Opportunity to purchase a value-add strip retail center in Southfield, Michigan. These properties consist of 14 tenants and a diversified rent roll of service businesses resistant to e-commerce trends. Through the mark to market of rents and conversion to NNN leases, investors have the opportunity to increase NOI while clipping in-place cash flow. The rent roll has a staggered expiration schedule allowing for smooth cash flow and operations.
Investment highlights
- 20,239 SF across 2 strip center properties
- 1.1 years of WALT
- Diversified rent roll with staggered expirations
- Hard corner location in highly trafficked corridor
Listing Contacts
Listed by Altitude Commercial Real Estate
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$333,833.00
$27,819.42/mo
Valuation Metrics
0
DSCR
7.22%
Cap Rate
7.22%
ROI
Map
Zoning
B-3 CommercialGeneral CommercialGeneral Business
View municipality zoning documents Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 47 uses
View all 47 uses Last updated Mar 9, 2026 For deeper zoning details, reports are available at Zoneomics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Brokerage Phone
Title
Brokerage Address
Name
License
Is there information that looks off?
