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Warren Value-Add Opportunity - Warren, MI 32373 Van Dyke Ave 8,459 SF 61% Leased Retail Building Warren, MI 48093 $2,000,000 ($236.43/SF) 9.69% Cap Rate
INVESTMENT HIGHLIGHTS
- The property is currently 61.13% occupied, presenting a clear opportunity to enhance cash flow and achieve a pro-forma cap rate of 9.69%.
- Consumer Cellular recently executed a fiveyear lease and invested over $300,000 into its buildout, demonstrating tenant commitment.
- Triple Net (NNN) Leases are in place for the existing tenants, providing stable and predictable income.
- Positioned as an out-parcel to Menards, the site offers prominent frontage along a signalized intersection within a prime trade hub anchored.
- The property benefits from excellent visibility in a densely populated area, with 109,167 residents within a three-mile radius.
- The 1.12-acre parcel is larger than most comparable pad sites, offering enhanced flexibility and long-term value.
EXECUTIVE SUMMARY
Sands Investment Group is pleased to exclusively offer for sale the 8,459 SF Value-Add Retail Opportunity located at 32373 Van Dyke Avenue in Warren, Michigan. Strategically positioned, the property is currently operating at 61.13% occupancy and presents significant upside through lease-up and stabilization. The asset benefits from attractive lease structures, with Triple Net (NNN) Leases in place for the existing tenants.
IN COOPERATION WITH: Sands Investment Group Michigan, LLC - Lic. # 6505424119 31235 Harper Avenue, St. Clair Shores, MI 48082 Direct# 586.210.6178 Broker of Record: Max Freedman - MI Lic. # 6502424113
IN COOPERATION WITH: Sands Investment Group Michigan, LLC - Lic. # 6505424119 31235 Harper Avenue, St. Clair Shores, MI 48082 Direct# 586.210.6178 Broker of Record: Max Freedman - MI Lic. # 6502424113
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,459 SF
Building Class
B
Year Built
2017
Price
$2,000,000
Price Per SF
$236.43
Cap Rate
9.69%
NOI
$193,870
Percent Leased
61%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.17
Lot Size
1.12 AC
Zoning
M-1, Light Industrial - Light Industrial
Parking
73 Spaces (8.63 Spaces per 1,000 SF Leased)
Frontage
112’ on Van Dyke Ave
AMENITIES
- Monument Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Consumer Cellular
- Administrative and Support Services
- 3,600 SF
- $22.95
- Dec 2029
- Cottage Inn Pizza
- Accommodation and Food Services
- 1,571 SF
- $25.21
- Nov 2030
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Consumer Cellular | Administrative and Support Services | 3,600 SF | $22.95 | Dec 2029 | ||
| Cottage Inn Pizza | Accommodation and Food Services | 1,571 SF | $25.21 | Nov 2030 |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
- 32385
- 1,506 SF
- Retail
- In-Line
- Now
- 32401
- 1,782 SF
- Retail
- End Cap
- Now
| Space | Size | Space Use | Position | Available |
| 32385 | 1,506 SF | Retail | In-Line | Now |
| 32401 | 1,782 SF | Retail | End Cap | Now |
32385
| Size |
| 1,506 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
32401
| Size |
| 1,782 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 12-13-04-226-026 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $768,880 |
PROPERTY TAXES
Parcel Number
12-13-04-226-026
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$768,880
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Warren Value-Add Opportunity - Warren, MI | 32373 Van Dyke Ave
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