591 S Lapeer Rd
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591 S Lapeer Rd
4,484 SF Retail Building Lake Orion, MI 48362 For Sale
Executive Summary
Absolute NNN Lease | Zero Landlord Responsibilities
Sale Lease Back - Tenant has Committed to a Long Term 10 Year Lease | Lease will Commence at Close of Escrow
Seasoned Operator With 14 Units 10% Rental Increases Every 5 Years in Initial Term and in Option Periods | Hedge Against Inflation
Tenant has Operated as a Auto-Service Tire Shop at the Subject Location for Over 50 Years
Excellent Visibility with Frontage on South Lapeer Road
Easily Accessible From South Lapeer Road which has Traffic Counts of Over 56,500 Vehicles Per Day
Positioned Along a Busy Retail Corridor and Surrounded by Many National Retailers
Located in Oakland County, Among the 10 Highest Income Counties in the U.S. with Populations Over 1 Million People
Average Household Income Within a 5-Mile Radius of the Subject Property Exceeds $128,290
Located Just South of Downtown Lake Orion
Surrounded by National Retailers Such as: Kroger, CVS, Advance Auto Parts, Wendy's, KFC, McDonalds, Taco Bell, Planet Fitness, Speedway, Multiple Car Dealerships and Many More.
Sale Lease Back - Tenant has Committed to a Long Term 10 Year Lease | Lease will Commence at Close of Escrow
Seasoned Operator With 14 Units 10% Rental Increases Every 5 Years in Initial Term and in Option Periods | Hedge Against Inflation
Tenant has Operated as a Auto-Service Tire Shop at the Subject Location for Over 50 Years
Excellent Visibility with Frontage on South Lapeer Road
Easily Accessible From South Lapeer Road which has Traffic Counts of Over 56,500 Vehicles Per Day
Positioned Along a Busy Retail Corridor and Surrounded by Many National Retailers
Located in Oakland County, Among the 10 Highest Income Counties in the U.S. with Populations Over 1 Million People
Average Household Income Within a 5-Mile Radius of the Subject Property Exceeds $128,290
Located Just South of Downtown Lake Orion
Surrounded by National Retailers Such as: Kroger, CVS, Advance Auto Parts, Wendy's, KFC, McDonalds, Taco Bell, Planet Fitness, Speedway, Multiple Car Dealerships and Many More.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
4,484 SF
Building Class
C
Year Built
1960
NOI
£138,737
Tenancy
Single
Number of Floors
1
Building FAR
0.29
Lot Size
0.35 AC
Zoning
BI - Light Industrial/Retail
Parking
15 Spaces (3.35 Spaces per 1,000 SF Leased)
Frontage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 09-11-427-019 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £146,928 |
PROPERTY TAXES
Parcel Number
09-11-427-019
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£146,928
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591 S Lapeer Rd
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