32373-32401 Van Dyke Ave - Freestanding FOR SALE


Warren, MI 48093- Northwest Warren
$2,400,000 USD
347-971-3621
32373-32401 Van Dyke Ave, Warren, MI for Sale
$2,400,000 USD
Freestanding - FOR SALE
1/18
null | 11.21% Cap Rate

32373-32401 Van Dyke Ave
Warren, MI 48093
Northwest Warren


OVERVIEW

SP Capital Group is pleased to exclusively represent the sale of a prime retail investment opportunity located at 32373–32405 Van Dyke Avenue in Warren, MI, within the Detroit metro area. This 8,549 SF single-story retail building sits on 1.12 acres and features four retail units with on-site parking for 73 vehicles. Built in 2017, the property offers modern construction and strong visibility, situated as an outparcel to Menard’s and benefiting from traffic counts of 56,400 vehicles per day. Currently, two units are leased to Consumer Cellular and Cottage Inn Pizza on long-term NNN leases, generating a current NOI of $118,200 with a projected NOI of $205,800 once the two vacant units are leased. The site is strategically positioned near the intersection of Van Dyke Avenue and E 14 Mile Road, minutes from major highways (I-94, I-75, I-696) and surrounded by a dense population base of 289,000 residents within a 5-mile radius. Asking Price: $2,400,000 Lease Type: NNN Occupancy: 50% (2 units leased, 2 vacant) This offering presents investors with the opportunity to acquire a modern retail asset in a high-traffic corridor with significant upside through lease-up of the remaining vacancies.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$281 USD /SF

CAP RATE

11.21%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Van Dyke Avenue Shops

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2017

SPRINKLERS

-

PARKING SPACES

73

LAND DETAILS

LAND ACRES

1.12 AC

LAND SF

48,787 SF

ZONING

M-1, Light Industrial

APN/PARCEL ID

12-13-04-226-026

ASK ABOUT THIS PROPERTY

Efraim MammonSP Capital Group LLCMore Info
347-971-3621

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Efraim MammonSP Capital Group LLCMore Info
347-971-3621

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