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7 - Eleven 1040 W 9 Mile Rd

2,580 SF Retail Building Ferndale, MI 48220 $1,050,000 ($407/SF) 4.13% Cap Rate

Retail Space Michigan Ferndale 1040 W 9 Mile Rd, Ferndale, MI 48220

Investment Highlights

  • Huge Increase Rent Potential at Renewal Options with no cap on CPI
  • Investment Credit Corporate Guarantee by 7-Eleven holding an “A” Credit Rating with a $29 Billion Market Cap
  • Traffic Counts Exceed 36,000+ Cars Per Day & Located at Signalized Intersection of W 9 Mile Road & Pinecrest Road
  • Absolute NNN Lease w/ no Landlord Obligations
  • Low occupancy Cost & Low Rent to Sales Ratio
  • Downtown Ferndale Street Neighborhood Retail Location w/ Over 360,000+ Population in a 5 Mile Radius

Executive Summary

Huge Increase Rent Potential at Renewal Options with no cap on CPI - Base CPI from 2019 minimum 21% increase plus Assuming a Conservative 2% annual CPI resulting in 34% Increase at next Renewal and 48% Increase in Last Renewal
Absolute NNN Lease w/ no Landlord Obligations
Investment Credit Corporate Guarantee by 7-Eleven holding an “A” Credit Rating with a $29 Billion Market Cap
Low occupancy Cost & Low Rent to Sales Ratio
Traffic Counts Exceed 36,000+ Cars Per Day & Located at Signalized Intersection of W 9 Mile Road & Pinecrest Road
Downtown Ferndale Street Neighborhood Retail Location w/ Over 360,000+ Population in a 5 Mile Radius
Long Term Occupancy Since 2009 and Recent Lease Renewal

Attachments

7-Eleven - Ferndale, MI - Encore MP

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
2,580 SF
Building Class
B
Year Built
1978
Price
$1,050,000
Price Per SF
$407
Cap Rate
4.13%
NOI
$43,365
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Land Acres
0.37 AC
Zoning
BI
Parking
17 Spaces (6.58 Spaces per 1,000 SF Leased)
Frontage
110 FT on W 9 Mile Rd

Amenities

  • Signage

Links

1 of 1
1040 W 9 Mile Rd, Ferndale, MI - aerial map view - Image1
1040 W 9 Mile Rd, Ferndale, MI - aerial map view - Image2
Walk Score ®
Very Walkable (86)
Bike Score ®
Very Bikeable (81)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Nearby Major Retailers

Biggby Coffee
Huntington National Bank
Anytime Fitness
Snap Fitness 24/7
Citizens Bank
First Merchants Bank
Comerica
Credit Union ONE
Caribou Coffee
ALDI

PROPERTY TAXES

Parcel Number 25-28-479-004 Improvements Assessment $0
Land Assessment $0 Total Assessment $276,800

PROPERTY TAXES

Parcel Number
25-28-479-004
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$276,800
(248) 702-0288

  • Listing ID: 32557024

  • Date on Market: 7/23/2024

  • Last Updated:

  • Address: 1040 W 9 Mile Rd, Ferndale, MI 48220

More public record information on 1040 W 9 Mile Rd, Ferndale, MI 48220

The Retail Property at 1040 W 9 Mile Rd, Ferndale, MI 48220 is currently available For Sale. Contact Encore Real Estate Investment Services for more information.

Retail PROPERTIES IN NEARBY NEIGHBORHOODS

Nearby Listings

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1040 W 9 Mile Rd, Ferndale, MI for sale Building Photo- Image 1 of 7
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1040 W 9 Mile Rd, Ferndale, MI for sale Building Photo- Image 2 of 7
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1040 W 9 Mile Rd, Ferndale, MI for sale Building Photo- Image 4 of 7
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1040 W 9 Mile Rd, Ferndale, MI for sale Aerial- Image 5 of 7
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1040 W 9 Mile Rd, Ferndale, MI for sale Aerial- Image 6 of 7
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7 - Eleven | 1040 W 9 Mile Rd
(248) 702-0288 x

7 - Eleven | 1040 W 9 Mile Rd

1/3

Deno Bistolarides

(248) 702-0288

(248) 702-0288

Noah Dalaly

(248) 702-4427

(248) 702-4427

Danny Samona

(734) 945-5967

(734) 945-5967

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