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Hagopian Building 43223-43235 W 12 Mile Rd 29,884 SF 37% Leased Retail Building Novi, MI 48377 $4,995,000 ($167.15/SF)

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INVESTMENT HIGHLIGHTS

  • Street level retail space, located on an outlot to Twelve Oaks Mall.
  • Close proximity to I-96, I-275 and M-5.
  • Ability to expand parking by utilizing excess land included in the side of the building.
  • Free-standing building with exquisite interior and architectural design.
  • Flexible Seller with the ability to move into the upper level retail space and leaseback to a new Owner

EXECUTIVE SUMMARY

A 29,884 square foot free-standing retail building located along 12 Mile Road directly in front of 12 Oaks Mal

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
29,884 SF
Building Class
B
Year Built
1998
Price
$4,995,000
Price Per SF
$167.15
Percent Leased
37%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.25
Lot Size
2.70 AC
Zoning
RC - Regional Center
Parking
64 Spaces (2.14 Spaces per 1,000 SF Leased)
Frontage
126’ on 12 Mile Rd

AMENITIES

  • Dedicated Turn Lane
  • Property Manager on Site
  • Signage
  • Tenant Controlled HVAC
  • Storage Space
  • Air Conditioning
  • Balcony

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE END
  • -
  • 29,884 SF
  • -
  • -

Our founder, Haroutun (Harry) Hagopian was born in 1895 in Bursa, Turkey during a very difficult period in history. The minority Armenian population in Turkey (at the time known as the Ottoman Empire) was pushing for equal rights and coming under attack. The Ottoman Empire, already crumbling, started what would become the first genocide of the 20th century killing 1.5 million Armenians. Haroutun was one of the survivors along with his wife, Cariana, but she lost her entire family. As an adult, Harry moved to Istanbul to become a pharmacist and soon after was conscripted by the Turkish Army to serve in the medical corps during World War I. Since all Armenians in the military were scheduled for execution after the war, Hagopian went AWOL and escaped to America in 1921.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE END
- 29,884 SF - -

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • 1st Floor
  • 18,900 SF
  • Retail
  • In-Line
  • Now
Space Size Space Use Position Available
1st Floor 18,900 SF Retail In-Line Now

1st Floor

Size
18,900 SF
Space Use
Retail
Position
In-Line
Available
Now

NEARBY MAJOR RETAILERS

Starbucks
D1 Sports Training
Red Lobster
Surf City Squeeze
Carrabba's Italian Grill
Bar Louie
Aqua-Tots Swim Schools
First Merchants Bank
Buffalo Wild Wings
Powerhouse Gym

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
22-14-100-034
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,285,840
  • Listing ID: 33544533

  • Date on Market: 10/17/2024

  • Last Updated:

  • Address: 43223-43235 W 12 Mile Rd, Novi, MI 48377

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