7 - Eleven | 1040 W 9 Mile Rd
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7 - Eleven 1040 W 9 Mile Rd
2,580 SF Retail Building Ferndale, MI 48220 £835,056 (£324/SF) 4.13% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Huge Increase Rent Potential at Renewal Options with no cap on CPI
- Investment Credit Corporate Guarantee by 7-Eleven holding an “A” Credit Rating with a $29 Billion Market Cap
- Traffic Counts Exceed 36,000+ Cars Per Day & Located at Signalized Intersection of W 9 Mile Road & Pinecrest Road
- Absolute NNN Lease w/ no Landlord Obligations
- Low occupancy Cost & Low Rent to Sales Ratio
- Downtown Ferndale Street Neighborhood Retail Location w/ Over 360,000+ Population in a 5 Mile Radius
EXECUTIVE SUMMARY
Huge Increase Rent Potential at Renewal Options with no cap on CPI - Base CPI from 2019 minimum 21% increase plus Assuming a Conservative 2% annual CPI resulting in 34% Increase at next Renewal and 48% Increase in Last Renewal
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
Long Term Occupancy Since 2009 and Recent Lease Renewal
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
Long Term Occupancy Since 2009 and Recent Lease Renewal
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
2,580 SF
Building Class
B
Year Built
1978
Price
£835,056
Price Per SF
£324
Net Initial Yield
4.13%
NOI
£34,488
Tenancy
Single
Number of Floors
1
Building FAR
0.16
Lot Size
0.37 AC
Zoning
BI
Parking
17 Spaces (6.58 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Signage
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (81)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 25-28-479-004 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £220,137 |
PROPERTY TAXES
Parcel Number
25-28-479-004
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£220,137
CONTACTS
-
Deno Bistolarides -
Noah Dalaly -
Danny Samona -
Encore Real Estate Investment Services
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7 - Eleven | 1040 W 9 Mile Rd
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