Aspen Dental & Charley's - Multi-Tenant Retail Center
Multi-Tenant | Full Lease | 5,548 SF
Marketing description
Positioned in the heart of Sterling Heights, Michigan, this newly constructed 5,548 SF multi-tenant retail center presents investors with a rare opportunity to acquire a 100% leased, recession-resistant asset anchored by Aspen Dental, a nationally recognized healthcare provider with over 1,000 locations, and Charleys Cheesesteaks & Wings, one of the nation's fastest-growing restaurant brands with more than 850 locations worldwide. Built in 2020 and offered at a 6.5% cap rate with an NOI of $217,656, the property delivers stable, long-term cash flow through NNN leases, with tenants responsible for taxes, insurance, CAM, HVAC, and parking lot maintenance, minimizing landlord responsibilities. Featuring over five years of remaining lease term, a 10% contractual rent increase for Charleys during the primary term, and a premier location along Van Dyke Avenue (M-53) surrounded by major national retailers including Walmart, Meijer, Home Depot, Dollar General, Taco Bell, and Panda Express, this investment combines exceptional visibility, strong demographics, and durable income growth, making it an outstanding addition to any net lease portfolio.
Investment highlights
Built in 2020, this 5,548 SF multi-tenant retail center offers investors a modern, low-maintenance asset with strong curb appeal and minimal near-term capital expenditure requirements.
The property is fully leased to two established tenants with more than 5 years of remaining lease term, providing dependable cash flow and longterm income security.
Anchored by Aspen Dental, a nationally recognized healthcare provider with over 1,000 locations nationwide, alongside Charleys Cheesesteaks & Wings, a rapidly growing restaurant brand with more than 850 locations globally.
Tenants are responsible for taxes, insurance, CAM, HVAC, and parking lot maintenance, significantly reducing landlord responsibilities and operating expense exposure.
Charleys Cheesesteaks & Wings features a contractual 10% rental increase during the primary lease term, providing future NOI growth and inflation protection.
Situated along Van Dyke Avenue (M-53), one of Macomb County's busiest commercial corridors, the property benefits from exceptional visibility, strong traffic counts, and direct access to major regional thoroughfares.
Located within a dominant retail trade area featuring major national retailers including Walmart, Meijer, Home Depot, Dollar General, Taco Bell, Panda Express, Mobil, Huntington Bank, and many others that drive consistent consumer traffic.
The property serves a dense and affluent trade area with more than 8,650 residents and average household incomes exceeding $82,000 within a one-mile radius.
The combination of healthcare and quick-service restaurant tenancy provides recession-resistant income streams and reduces reliance on a single retail sector.
Positioned within one of Metro Detroit's strongest retail markets, benefiting from continued residential growth, established neighborhoods, and sustained consumer demand.
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