Downtown Retail Main on Main 7-Eleven Investment Property
$1,050,000
1040 West Nine Mile Road, Ferndale, MI 48220
For Sale
Retail
Free Standing
Active
Last Updated: 10/24/2024
4.13
Cap Rate
43,339.92
NOI
Details:
Cap Rate: 4.13%
NOI: $43,339.92
Pro Forma Cap Rate : 6.04%
Building Size: 2,580 sqft
Lot Area: 0.37 sqft
Occupancy: 100%
Lease Type: Absolute Net
Year Built: 1978
Price Per Sqft: $406.98
Zoning: B1
Tenancy: Single
Roof: Tenant
HVAC: Tenant
Investment Strategy: Core Plus
Lease Expire Year: 03-31-2029
Highlights:
- Absolute NNN Lease w/ no Landlord Obligations
- Investment Credit Corporate Guarantee by 7- Eleven holding an “A” Credit Rating with a $29 Billion Market Cap.
- Low occupancy Cost & Low Rent to Sales Ratio
- Traffic Counts Exceed 36,000+ Cars Per Day & Located at Signalized Intersection of W 9 Mile Road & Pinecrest Road
- Downtown Ferndale Street Neighborhood Retail Location w/ Over 360,000+ Population in a 5 Mile Radius
Description:
Opportunity to acquire a free standing single tenant t-Eleven investment property guaranteed by 7-Eleven. The property is located at a main on main signalized intersection in the downtown Ferndale district. This is a high performing location and 7-Eleven recently extended lease for 5 years with a 21% rent increase.
Documents:
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7-Eleven_-_Ferndale__MI_-_Encore_MP.pdf
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Location
Gallery
