Retail For Sale

15701 Market Dr Dearborn, MI 48126

Listing ID: 1164

Detroit, Michigan 

Description

Seller's Comments and Description:

The subject offering is a 20-year, single-tenant absolute net lease retail showroom currently leased to Art Van Furniture, a leading
Midwest furniture retailer and wholesaler. The asset is located in a strong retail corridor with ease of access to all of Metro Detroit, while being less
than 20 minutes from Detroit Airport. Art Van Furniture has recently executed a 20-year, Absolute Net lease beginning in March of 2017. The lease rate
is set at $12.50/SF with 2.00% annual increases. It is important to note that the 73,400 square foot building was designed for the tenant and has been
diligently maintained. Given the building’s pristine condition, the long-term lease, creditworthiness of the tenant, and strong market conditions, the
asset has been listed for sale at a price of $13,107,143 with a 7.00% Cap Rate.


Images

Listing Began: Oct 29, 2017, 4:18 pm
Number of Times Viewed: 212

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