35000 W Warren Rd - Department Store FOR SALE


Westland, MI 48185
$14,000,000 USD
914-220-9758
35000 W Warren Rd, Westland, MI for Sale
$14,000,000 USD
Department Store - FOR SALE
1/14
null | 8.11% Cap Rate

35000 W Warren Rd
Westland, MI 48185


HIGHLIGHTS

  • Kohl’s recently renovated in 2021, showcasing its commitment to the site
  • Inflation hedge increases every 5 years & no landlord responsibilities
  • This location includes an in-store Sephora, which enhances cross-traffic and broadens customer demographics
  • Over 814,000 residents and an average household income exceeding $92,000 create a powerful consumer base, driving demand & long-term retail stability
  • Located at the signalized corner of Warren Road and Wayne Road, the property boasts 60,000 VPD, offering unmatched visibility and accessibility
  • With 800'+ of frontage along 2 major roads, the property offers prominent pylon & monument signage to enhance tenant visibility & consumer recognition

OVERVIEW

The subject property is a single tenant Kohl's under an absolute triple-net, corporate guaranteed ground lease. The store occupies 90,860 square feet and has eleven years remaining on its lease, with four, 5-year option periods remaining. This location is the number four most visited store in the state of Michigan. The property is well located in a prime high-traffic location at the signalized corner of Warren Road and N. Wayne Road and boasts 60,000+ VPD, offering unmatched visibility and accessibility. A variety of national and credit tenants are within close proximity including Walmart Supercenter, Target, Lowe's, Home Depot, Dick's Sporting Goods, Meijer and Best Buy.

FOR SALE DETAILS

PRICE

$14,000,000 USD

PRICE/SF

$154 USD /SF

CAP RATE

8.11%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Kohl's Ground Lease w/over 11 Years Remaining

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

227

LAND DETAILS

LAND ACRES

8.35 AC

LAND SF

363,726 SF

ZONING

CB-3

APN/PARCEL ID

56-015-99-0011-704

ASK ABOUT THIS PROPERTY

Joseph FrenchMarcus & MillichapMore Info
914-220-9758

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

Joseph FrenchMarcus & MillichapMore Info
914-220-9758

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