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.