Summerfield Shops & Telegraph Shops 2 Retail Properties Offered at $1,229,324 in Multiple Locations

Two-property investment portfolio that can be purchased together or individually.
Summerfield Shops is a 100% occupied, two-tenant neighborhood strip center located on Summerfield Road in Temperance, Michigan, within the greater Toledo MSA. The 8,000 SF property sits on approximately 1.3 acres and is offered fee simple and free and clear at an attractive 8.25% cap rate and $85 PSF. Constructed in 2003, the center features durable physical attributes including a stone façade, individually metered utilities, ground-mounted HVAC systems positioned at the rear of the building, ample surface parking with 58 spaces, and two points of full-access, two-way ingress and egress that provide strong visibility and convenient access for neighborhood-serving uses.
The rent roll is anchored by Miracle Salon & Medi Spa, a second-generation, family-owned operator with more than 25 years of operating history in the greater Toledo market, offering a diversified mix of salon, spa, and medical aesthetic services with a deeply established local client base. The second tenant, The Ability Hub, is a mission-driven provider of essential community living support services addressing durable demographic needs tied to healthcare, aging, and disability support. Both tenants are service-oriented, necessity-based users with recurring demand and minimal exposure to e-commerce disruption, resulting in a weighted average lease term of approximately 4.6 years with contractual rent increases in place.
In-place rents average $10.05 PSF on a modified gross lease structure, which remains below prevailing market rents of approximately $11.50 to $14.00 PSF (NNN) for comparable neighborhood retail space along the Lewis Avenue, and Secor Road corridors. This spread provides clear mark-to-market upside over time through natural lease rollover and improved expense recoverability. Located within a stable, predominantly owner-occupied residential trade area supported by solid household incomes, limited new retail construction, and consistent demand for convenience-oriented services, Summerfield Shops offers investors durable in-place cash flow, defensive tenancy, and long-term NOI growth potential without reliance on aggressive underwriting assumptions.
Summerfield Shops benefits from consistent demand for convenience-oriented professional services. With limited new retail construction, sub-4% market vacancy, and durable service-based tenancy, the property offers investors defensive in-place cash flow, embedded rent growth, and long-term NOI expansion potential without reliance on aggressive underwriting assumptions.
Telegraph Shops is a 100% occupied, three-tenant neighborhood strip center located on South Telegraph Road in Monroe, Michigan, within the greater Detroit-Toledo regional corridor. The ±4,604 SF property sits on approximately ±1.2 acres and is offered fee simple and free and clear at an attractive 8.25% cap rate and $119 PSF. Constructed in 1998, the center features durable physical attributes including a brick exterior, individually metered utilities, rear-positioned ground-mounted HVAC systems, ample surface parking with 40 spaces, and one point of two-way ingress and egress providing convenient access for service-oriented users. No near-term capital improvements are anticipated.
The rent roll is anchored by Northwestern Mutual, a nationally recognized financial services firm occupying approximately 52% of the center, alongside First American Title, a subsidiary of a publicly traded national title insurance provider, and Delaney’s Counseling Services, a locally rooted mental health counseling practice providing essential, appointment-based services to the surrounding community. All tenants operate professional, service-based businesses with appointment-driven models, recurring client demand, and minimal exposure to e-commerce disruption. The current weighted average lease term is approximately 2.9 years, with contractual rent increases in place for two of the three tenants, providing near-term income stability with embedded rollover opportunity.
On an adjusted basis, in-place rents remain materially below prevailing market levels. The largest tenant, Northwestern Mutual, is effectively paying approximately $5.22 PSF on a comparable NNN basis, materially below recent NNN leasing activity in the immediate trade area, where neighborhood-oriented and service-based tenants have executed leases averaging approximately $14.40 to $15.00 PSF NNN. Delaney Counseling Services is similarly leased below prevailing NNN market levels after adjustment, while the sole NNN tenant, First American Title, is closer to market but lacks contractual rent escalations. This rent positioning provides clear mark-to-market upside over time through lease rollover, MG-to-NNN conversion, and alignment with observable market benchmarks.
Located in an established Monroe trade area supported by solid household incomes, stable population trends, and a diverse employment base anchored by manufacturing, logistics, healthcare, and public sector jobs, Telegraph Shops benefits from consistent demand for convenience-oriented professional services. With limited new retail construction, sub-4% market vacancy, and durable service-based tenancy, the property offers investors defensive in-place cash flow, embedded rent growth, and long-term
NOI expansion potential without reliance on aggressive underwriting assumptions.