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Downtown Retail Main on Main 7-Eleven Investment Property

$1,050,000

1040 West Nine Mile Road, Ferndale, MI 48220

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.

Map:
Documents:
Title
7-Eleven_-_Ferndale__MI_-_Encore_MP.pdf
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