24270-24276 Novi Rd
Novi, MI 48375
Retail Property For Sale

Marcus & Millichap is pleased to present Vantage Pointe Center, located in Novi, Michigan. The 6,010-square foot shopping center was constructed in 2007 and is currently 100 percent occupied by three tenants operating on NNN leases. The anchor tenant, Benito's Pizza, recently expanded and now occupies 46.2 percent of the center. Benito's has nine years remaining on their primary lease term. The two other tenants, Penn Station and Fitness Together, just recently executed five-year lease extensions, showing commitment to this location. Both Penn Station and Fitness Together have annual increases in place. The asset features excellent visibility on Novi Road, which experiences over 20,000 vehicles per day. Vantage Pointe Center is situated just one mile south of Interstate-96 which experiences over 163,000 vehicles per day. Vantage Pointe Center is strategically located just a mile south of the Novi Regional Trade Area that is clustered at Novi Road and the Interstate-96 interchange. There are nearly 14 million square feet of retail within five miles of this asset. Notable nearby retail includes Twelve Oaks Mall, a 1.5 million square foot super-regional shopping mall with over 180 stores, Novi Town Center which contains over 75 specialty stores including Walmart and Golfsmith, as well as Fountain Walk, anchored by Emagine Theatres and Sears. Novi is considered to be one of the fastest growing cities in Michigan, the population has increased by 27 percent since 2000 and is expected to grow by an additional 6 percent in the next five years. Novi features excellent demographics; there are over 152,000 residents with an average household income exceeding $121,000 within five miles of this asset. Major expressways such as I-96, I-275, I-696, and the newly constructed M-5 connector are conveniently accessible, making Novi a hub to market connections throughout Michigan and the Midwest. Vantage Pointe Center offers an investor the opportunity to acquire a stable asset situated in an core retail market with excellent demographics.