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5900 Highland Rd 49,434 SF Retail Building Waterford, MI 48327 $4,500,000 ($91.03/SF) 10.60% Cap Rate
Investment Highlights
- High visibility location, driveway/entry access from two main roads, very extensive parking availability, long term tenant in partial use of space.
Executive Summary
Lasco Real Estate Group is pleased to present the exclusive listing at 5900 Highland Road, Waterford, Mi 48327, offered at $4,800,000.00. Built in 1972 and fully renovated in 2023, this property is comprised of 49,434 square feet of building space and sits on just under 7.5 acres of land. The front portion has been used in the past for automotive dealership sales, but would also be ideal for any business requiring retail store frontage or clients services, with private offices for management as well. This property is partially leased, just under 20%, through 6/30/29 with (2) five-year extension options available. The lease of the body shop portion of the building is transferrable to the new owner.
Owners would consider a NNN Lease in lieu of a fee simple sale as well.
This Property consists of two parcels - 1316352020 (6.359ac) & 1316352029 (.918ac)
Mitsubishi is not currently occupying the space.
Owners would consider a NNN Lease in lieu of a fee simple sale as well.
This Property consists of two parcels - 1316352020 (6.359ac) & 1316352029 (.918ac)
Mitsubishi is not currently occupying the space.
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Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
49,434 SF
Building Class
C
Year Built/Renovated
1993/2023
Price
$4,500,000
Price Per SF
$91.03
Cap Rate
10.60%
NOI
$477,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
7.28 AC
Zoning
BI - General Business District
Parking
1,500 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
403’ on Highland Rd
Amenities
- Signage
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 13-16-352-020 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,278,420 |
Property Taxes
Parcel Number
13-16-352-020
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,278,420
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Presented by
Jennifer Lasco Real Estate
5900 Highland Rd
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