Waterford Retail/Office Building For Sale

Retail-Commercial for Sale
Sale Pending
Also listed as Office
Catylist Listing ID: 30169484
Property Subtypes: Mixed Use, Street Retail
Status: Pending
Building Size (RSF): 2,440 SF
Gross Land Area: 0.27 Acres
Sale Price: $349,000
Unit Price: $143.03 PSF
Property Use Type: Investment
Sale Terms: Purchase Money Mortgage
Cap Rate: 10.0%
Last Updated: 3/13/2018

Overview / Comments

* Former All State Insurance office.
* Rear of the office had a small garage, built for insurance adjusting. This space has since been converted to an office.
* Building is located on the south side of Highland Road (M-59), just one property east of Pontiac Lake Road.
* The property is adjacent to the Dunkin Donuts/Jersey Mike retail setting on the hard corner. Meijer's is located directly across the street.
* The drive-by numbers on Highland Road at this intersection are the most in north Oakland County.
* This investor building purchase opportunity. The current tenant pays $2900 per month NNN until its expiration December 31, 2019. The tenant has a 2 year renewal option.
* Once leasehold interest expires, it is an excellent owner/user opportunity, with the two or more years initial income stream.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Lakes Area
Tax ID/APN: 13-22-253-004
Retail Clientele: General, Business
Property Visibility: Good
Largest Nearby Street: Highland Road
Traffic/Vehicle Count: 50,000
Airports: Oakland International Airport
Site Description: Located in the center of Oakland County High traffic intersection of M-59 and Pontiac Lake Road Traffic count: 50,000+ cars per day
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 16
Parking Type: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,097 80,622 179,084
Median Age: 39.48 38.53 38.8
Households: 3,464 32,977 70,294


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