32090 23 Mile Rd - Medical FOR SALE


Chesterfield, MI 48047- New Baltimore
$600,000 USD
586-873-5419
32090 23 Mile Rd, Chesterfield, MI for Sale
$600,000 USD
Medical - FOR SALE
1/4
null | 7.4% Cap Rate

32090 23 Mile Rd
Chesterfield, MI 48047
New Baltimore


HIGHLIGHTS

  • Single-tenant retail investment leased to Normandy Eye Center & Optical.
  • Lease term extends through August 31, 2031.
  • Located along 23 Mile Road with approximately 24,938 vehicles per day.
  • Recent roof replacement completed in 2023 and under warranty.
  • HVAC replaced in 2019 and parking lot repaved in 2020.
  • Positioned within the Chesterfield Township and New Baltimore trade area.

OVERVIEW

32090 23 Mile Road presents the opportunity to acquire a single-tenant retail investment occupied by Normandy Eye Center & Optical, a long-established vision care provider serving the Metro Detroit market. The property benefits from an established operating history, with the location serving the community for more than two decades and operating under the Normandy Eye Center & Optical brand since 2020. The tenant's presence is supported by a regional platform that has expanded to multiple locations throughout Metro Detroit since the company's founding in 1949. Situated along 23 Mile Road at Sass Road, the property offers frontage on a heavily traveled commercial corridor with reported traffic counts of approximately 24,938 vehicles per day. The site is positioned within the Chesterfield Township and New Baltimore trade area, providing access to a growing residential population base and established consumer demographics. The surrounding area benefits from proximity to Lake St. Clair, Anchor Bay, regional retail services, and the commercial activity that serves northeastern Macomb County. The asset consists of a freestanding retail building situated on approximately 0.44 acres with on-site parking. Recent capital improvements include HVAC replacement in 2019, parking lot repaving in 2020, renovation work completed in 2021, and a roof replacement in 2023 that remains under warranty. The existing lease extends through August 31, 2031 and provides contractual rent increases during the remaining term. The investment structure offers a predictable income stream supported by a tenant responsible for property taxes, insurance, snow removal, landscaping, and routine maintenance obligations under the lease.

FOR SALE DETAILS

PRICE

$600,000 USD

PRICE/SF

$250 USD /SF

CAP RATE

7.4%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Normandy Optical

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

43

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

C3 GEN

APN/PARCEL ID

15-09-22-201-016

ASK ABOUT THIS PROPERTY

Anthony RubinoPilot Property Group, Inc.More Info
586-873-5419

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Anthony RubinoPilot Property Group, Inc.More Info
586-873-5419

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