28810 Northwestern Hwy - Car Washes FOR SALE


Southfield, MI 48034
$9,000,000 USD
781-776-4003
28810 Northwestern Hwy, Southfield, MI for Sale
$9,000,000 USD
Car Washes - FOR SALE
1/10
null | 6% Cap Rate

28810 Northwestern Hwy
Southfield, MI 48034


HIGHLIGHTS

  • ZERO MANAGEMENT RESPONSIBILITIES
  • POTENTIAL BONUS DEPRECIATION
  • PRIME COMMERCIAL MARKET
  • ATTRACTIVE RENT INCREASES
  • DYNAMIC TENANT
  • STRONG DEMOGRAPHICS

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a new construction single tenant El Car Wash located at 28810 Northwestern Highway in Southfield, Michigan (the “Property”). This is a sale-leaseback of a free-standing single tenant El Car Wash consisting of a single-story 4,284 square foot building on a 1.49-acre corner 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 at the signalized intersection of Northwestern Highway (MI Route 10) and W 12 Mile Road, two of the area’s primary commercial and commuter corridors. The Property enjoys outstanding visibility, frontage and access (from both roadways) 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 by office campuses, large apartment communities and residential neighborhoods providing a built-in customer base. Southfield is one of the most prominent suburban business centers in the Detroit metropolitan area, located in Oakland County about 15 miles northwest of downtown Detroit.

FOR SALE DETAILS

PRICE

$9,000,000 USD

PRICE/SF

$2,101 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

El Car Wash

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2026

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.49 AC

LAND SF

64,904 SF

ZONING

B-3

APN/PARCEL ID

24-18-226-001

ASK ABOUT THIS PROPERTY

Robert HorvathHorvath & TremblayMore Info
781-776-4003

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

Robert HorvathHorvath & TremblayMore Info
781-776-4003

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