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Chipotle & Potbelly Center 27810 23 Mile Rd 7,098 SF 100% Leased Retail Building Chesterfield, MI 48051 $4,100,000 ($577.63/SF) 5.85% Cap Rate
Investment Highlights
- Fully leased multi-tenant retail investment with national restaurant tenants.
- Drive-thru configuration supports tenant operations and customer convenience.
- Located near established national retailers and commercial development.
- Corner location provides visibility along 23 Mile Road.
- Pylon signage enhances exposure to passing traffic.
- Modern construction completed in 2016.
Executive Summary
Chipotle & Potbelly Center is a fully leased multi-tenant retail investment located along 23 Mile Road in Chesterfield, Michigan. The property is occupied by nationally recognized restaurant tenants and offers an established income stream supported by a 100% leased rent roll. The center benefits from direct frontage on 23 Mile Road, corner-lot positioning, pylon signage, and drive-thru functionality, providing strong visibility and customer access.
The property is situated within a major retail corridor that serves Chesterfield Township and surrounding communities including New Baltimore, New Haven, Richmond, and Macomb. Existing cross-access connectivity with adjacent retail development enhances circulation and convenience for customers. Nearby national retailers, including Lowe’s, contribute to the area's established commercial activity and consumer traffic patterns.
Constructed in 2016, the asset consists of a single-story retail building on approximately 1.53 acres. The combination of modern construction, national-brand tenancy, and frontage along a heavily traveled commercial corridor positions the property as a stabilized retail investment opportunity. Its location within an active suburban trade area provides access to a broad customer base and supports the long-term functionality of the center.
The property is situated within a major retail corridor that serves Chesterfield Township and surrounding communities including New Baltimore, New Haven, Richmond, and Macomb. Existing cross-access connectivity with adjacent retail development enhances circulation and convenience for customers. Nearby national retailers, including Lowe’s, contribute to the area's established commercial activity and consumer traffic patterns.
Constructed in 2016, the asset consists of a single-story retail building on approximately 1.53 acres. The combination of modern construction, national-brand tenancy, and frontage along a heavily traveled commercial corridor positions the property as a stabilized retail investment opportunity. Its location within an active suburban trade area provides access to a broad customer base and supports the long-term functionality of the center.
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- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
7,098 SF
Building Class
B
Year Built
2016
Price
$4,100,000
Price Per SF
$577.63
Cap Rate
5.85%
NOI
$239,850
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.11
Lot Size
1.53 AC
Zoning
C3 GEN
Parking
60 Spaces (8.45 Spaces per 1,000 SF Leased)
Frontage
188’ on 23 Mile Rd
Amenities
- Corner Lot
- Pylon Sign
- Signage
- Drive Thru
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
20/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 15-09-20-126-014 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $765,800 |
Property Taxes
Parcel Number
15-09-20-126-014
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$765,800
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