Van Dyke Avenue Shops 32373-32401 Van Dyke Ave
8,549 SF 60% Leased Retail Building Warren, MI 48093 $2,700,000 ($316/SF) 9.96% Cap Rate
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EXECUTIVE SUMMARY
SP Capital Group is pleased to exclusively represent the sale of 32373-32405 Van Dyke Ave, Warren, MI, an exceptional 8,549 square foot retail building located in the highly trafficked Detroit Metro area. This single-story, multi-unit retail center sits on a 1.12-acre lot and offers ample parking with 73 spaces, ensuring both convenience and accessibility for tenants and customers alike. The property features four retail units, two of which are occupied by stable tenants on NNN leases. Diabella's Restaurant and Cottage Inn Pizza have long-term leases, providing a solid income stream, while the other two units are currently vacant, presenting significant upside potential for new tenants.
The property is strategically positioned near residential neighborhoods, national retailers, and key roadways such as I-94, I-75, and I-696, providing exceptional visibility and accessibility. With 56,400 vehicles passing by daily along Van Dyke Ave, this location benefits from high foot traffic and is in close proximity to restaurants, shopping centers, schools, parks, and downtown Detroit. The property also boasts a current NOI of $181,452, with a projected NOI of $269,052 once the vacant units are leased.
This property represents an outstanding opportunity for investors seeking a stable, income-generating asset with the potential for significant upside. With its prime location, long-term tenants, and future leasing potential, it’s an attractive option for both seasoned investors and newcomers to the area. For more information please contact us directly.
The property is strategically positioned near residential neighborhoods, national retailers, and key roadways such as I-94, I-75, and I-696, providing exceptional visibility and accessibility. With 56,400 vehicles passing by daily along Van Dyke Ave, this location benefits from high foot traffic and is in close proximity to restaurants, shopping centers, schools, parks, and downtown Detroit. The property also boasts a current NOI of $181,452, with a projected NOI of $269,052 once the vacant units are leased.
This property represents an outstanding opportunity for investors seeking a stable, income-generating asset with the potential for significant upside. With its prime location, long-term tenants, and future leasing potential, it’s an attractive option for both seasoned investors and newcomers to the area. For more information please contact us directly.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,549 SF
Building Class
B
Year Built
2017
Price
$2,700,000
Price Per SF
$316
Cap Rate
9.96%
NOI
$269,052
Percent Leased
60%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
1.12 AC
Zoning
M-1, Light Industrial - Light Industrial
Parking
73 Spaces (8.54 Spaces per 1,000 SF Leased)
Frontage
112 FT on Van Dyke Ave
AMENITIES
- Monument Signage
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
- 32373
- 3,600 SF
- Retail
- End Cap
- Now
- 32385
- 1,506 SF
- Retail
- In-Line
- Now
- 32401
- 1,782 SF
- Retail
- End Cap
- Now
Space | Size | Space Use | Position | Available |
32373 | 3,600 SF | Retail | End Cap | Now |
32385 | 1,506 SF | Retail | In-Line | Now |
32401 | 1,782 SF | Retail | End Cap | Now |
32373
Size |
3,600 SF |
Space Use |
Retail |
Position |
End Cap |
Available |
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
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PROPERTY TAXES
Parcel Number | 12-13-04-226-026 | Improvements Assessment | $0 |
Land Assessment | $0 | Total Assessment | $725,310 |