13855 E Eight Mile Rd
Warren, MI 48089
Art Van Furniture: Warren, MI · Retail Property For Sale

The CBRE Net Lease Property Group is pleased to exclusively offer a 48,093-square-foot free-standing Art Van Furniture situated on 2.0 acres in Warren, MI, which is a densely developed bedroom community within the Detroit MSA (Population: 4.3 million), the 2nd-largest MSA in the Midwest and 14th-largest in the nation. Art Van' s absolute NNN lease has 19.5+ years of primary term remaining with attractive annual rent increases (lesser of 1.25x CPI or 2%) and four 5-year options to renew. Built in 1962 and recently renovated in 2016, this store has a proven performance history with attractive rent-to-sales and EBITDA coverage ratios. The site is strategically located with excellent access and visibility on E 8 Mile Road (Traffic Count: 41,383 VPD)--Warren' s primary east-west artery just 11 miles north of Detroit' s CBD. Art Van is also immediately adjacent to a shopping center anchored by Family Dollar and the Academy of Warren (Enrollment: 600+ Students) and surrounded by a myriad of residential, office and industrial uses. In total, there is 3.9 MSF of retail, 1.3 MSF of office and 4.0 MSF of industrial space within a 3-mile radius.