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20940 John R Rd
Hazel Park, MI 48030
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Long-Term Absolute NNN Lease with Annual Rent Increases
- Desirable Retail Trade Area
- Growing Industry
- Rare Opportunity to Own a Retail Property & Adjacent Parking Lot
- Well Positioned Off Interstate 75 and Michigan Highway 102
- Located in the Detroit Metropolitan Statistical Area (MSA)
EXECUTIVE SUMMARY
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in the Skymint asset located in Hazel Park, Michigan (the “Property”). The Property consists of a 2,890-square-foot freestanding retail building as well as an adjacent parking lot for additional spaces. Skymint is operating under an absolute NNN lease with zero landlord responsibilities whatsoever, offering a truly passive investment asset. The lease has over 9 years of term remaining, and features attractive 2.50% annual rent escalations throughout the base and option terms, providing investors with a boost to overall cash flows and a significant hedge against inflation.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,890 SF
Building Class
C
Year Built/Renovated
2020/2021
Price
$1,939,733
Price Per SF
$671.19
Cap Rate
9%
NOI
$174,576
Tenancy
Single
Building Height
1 Story
Building FAR
0.32
Lot Size
0.21 AC
Zoning
BI
Frontage
104’ on John R Rd
PROPERTY TAXES
| Parcel Number | 25-36-355-051 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $187,820 |
PROPERTY TAXES
Parcel Number
25-36-355-051
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$187,820
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