29555 Northwestern Hwy - Storefront FOR SALE


Southfield, MI 48034
$5,950,000 USD
248-879-7777
29555 Northwestern Hwy, Southfield, MI for Sale
$5,950,000 USD
Storefront - FOR SALE
1/3
null | 9.4% Cap Rate

29555 Northwestern Hwy
Southfield, MI 48034


HIGHLIGHTS

  • Fully leased retail strip center with 13 tenants
  • Anchored by Guitar Center with long-term lease
  • Located on high-traffic Northwestern Hwy (45,000+ VPD)
  • Surrounded by affluent demographics and dense population
  • Zoned B-3 with versatile retail usage potential

OVERVIEW

La Mirage is a 100% occupied, stabilized retail investment offered free and clear of existing financing at a 9.4% cap rate based on Year 1 NOI of $561,669. This offering presents the opportunity to acquire a Guitar Center–anchored property where the tenant has successfully operated since 1999 and recently exercised an early lease extension with a built-in rent increase, reinforcing its long-term commitment and enhancing the stability of the investment opportunity.

FOR SALE DETAILS

PRICE

$5,950,000 USD

PRICE/SF

$155 USD /SF

CAP RATE

9.4%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

La Mirage Shopping Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

180

LAND DETAILS

LAND ACRES

3 AC

LAND SF

130,680 SF

ZONING

B-3

APN/PARCEL ID

24-07-351-098

ASK ABOUT THIS PROPERTY

Lawrence RandazzoHayman CompanyMore Info
248-879-7777

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Lawrence RandazzoHayman CompanyMore Info
248-879-7777

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