Normandy Optical 32090 23 Mile Rd 2,400 SF Office Building Chesterfield, MI 48047 $600,000 ($250/SF) 7.40% Cap Rate

32090 23 Mile Road presents the opportunity to acquire a single-tenant retail investment occupied by Normandy Eye Center & Optical, a long-established vision care provider serving the Metro Detroit market. The property benefits from an established operating history, with the location serving the community for more than two decades and operating under the Normandy Eye Center & Optical brand since 2020. The tenant's presence is supported by a regional platform that has expanded to multiple locations throughout Metro Detroit since the company's founding in 1949.
Situated along 23 Mile Road at Sass Road, the property offers frontage on a heavily traveled commercial corridor with reported traffic counts of approximately 24,938 vehicles per day. The site is positioned within the Chesterfield Township and New Baltimore trade area, providing access to a growing residential population base and established consumer demographics. The surrounding area benefits from proximity to Lake St. Clair, Anchor Bay, regional retail services, and the commercial activity that serves northeastern Macomb County.
The asset consists of a freestanding retail building situated on approximately 0.44 acres with on-site parking. Recent capital improvements include HVAC replacement in 2019, parking lot repaving in 2020, renovation work completed in 2021, and a roof replacement in 2023 that remains under warranty. The existing lease extends through August 31, 2031 and provides contractual rent increases during the remaining term. The investment structure offers a predictable income stream supported by a tenant responsible for property taxes, insurance, snow removal, landscaping, and routine maintenance obligations under the lease.