32406 Franklin Rd Bingham Farms, MI 48025
Prime retail property occupied by the US Post Office.
Building Details
- Year built
- 1978
Source:
Fortisnetlease
Listing Agent: Robert Bender
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Franklin Retail Investment Opportunity
This 1,827 SF building, constructed in 1978, is located on Franklin Road in Franklin, MI. The property has been occupied by the US Post Office since construction. The tenant manages and pays for common area maintenance, including lawn and snow removal. The landlord is responsible for capital replacements and repairs to the premises, as well as property insurance and real estate taxes, which are then 100% reimbursed by the tenant. The property is zoned C-1 and has 621 units. The tenant has no identifiable sites to which they can ever relocate due to the historical designation of Franklin Road. There are 10% rent bumps in remaining five year options to renew the term. Investing in commercial property on Franklin Road in the Village of Franklin, MI, presents a unique opportunity due to the area's blend of historic charm and strategic location. Franklin is known for its well-preserved 19th-century architecture and a strong sense of community, attracting both residents and visitors seeking a quaint village atmosphere. Franklin Road serves as a central thoroughfare, providing excellent visibility and accessibility for businesses. The limited availability of commercial spaces in this predominantly residential area can lead to higher demand and potential appreciation in property value. The property has 100% occupancy.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Storefront properties
Location Insight
- Map
- Local Demand
- City
- Bingham Farms
- County
- Oakland
- State
- Michigan
- Longitude
- -83.2664
- Latitude
- 42.5206
Nearby Similar for Lease
FAQs
What type of property is this?
Storefront property - Prime retail property occupied by the US Post Office.
Where is this storefront property located?
The property is located at 32406 Franklin Rd Bingham Farms, MI.
What are key features of this property?
This property features: - Tenant (US Post Office) has no viable relocation options due to the historical designation of Franklin Road, ensuring long-term occupancy.; - Tenant reimburses 100% of property insurance and real estate taxes, minimizing landlord expenses.; - 10% rent increases in remaining five-year renewal options provide a hedge against inflation and increase investment returns.