18155 Mack Ave - Car Washes FOR SALE


Detroit, MI 48224- Cornerstone Village
$7,500,000 USD
781-776-4003
18155 Mack Ave, Detroit, MI for Sale
$7,500,000 USD
Car Washes - FOR SALE
1/9
null | 6% Cap Rate

18155 Mack Ave
Detroit, MI 48224
Cornerstone Village


HIGHLIGHTS

  • ATTRACTIVE RENT INCREASES
  • DYNAMIC TENANT
  • ZERO MANAGEMENT RESPONSIBILITIES
  • POTENTIAL BONUS DEPRECIATION
  • PRIME COMMERCIAL MARKET
  • HIGH TRAFFIC COUNTS

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a new construction single tenant El Car Wash located at 18155 Mack Avenue in Detroit, Michigan (the “Property”). This is a sale-leaseback of a free-standing single tenant El Car Wash consisting of a single-story 4,700 square foot building on a 1.24-acre parcel. El Car Wash will sign a new 20-year Absolute NNN Lease, with six (6), 5-year renewal options upon the close of escrow. The lease calls for attractive 2.0% annual rent increases throughout the base term and each of the renewal options. The new construction property is extremely well located along Mack Avenue, the area’s primary commercial and commuter corridor. The Property enjoys outstanding visibility, frontage and access and is in the center of a dense trade area that is home to large shopping centers, national and local retailers, restaurants, and medical facilities, all of which drive traffic to the area. El Car Wash is also within minutes of several area schools and is surrounded densely populated residential neighborhoods and apartment buildings providing a built-in customer base. The Property is positioned 8 miles northeast of Downtown Detroit adjacent to Grosse Pointe and Gross Pointe Farms, two of the most affluent communities in the Detroit Metropolitan area.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$1,596 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

El Car Wash

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2026

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.24 AC

LAND SF

54,014 SF

ZONING

B4

APN/PARCEL ID

21-0015980

ASK ABOUT THIS PROPERTY

Robert HorvathHorvath & TremblayMore Info
781-776-4003

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Robert HorvathHorvath & TremblayMore Info
781-776-4003

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.