Renovated Shopping
For Sale
Contact for pricing
2020 Auburn Road, Utica, MI 48317
Multi-tenant center anchored by Planet Fitness and Dollar Tree, with lease-up space available.
Property Size60,599 SF
Lot Size7.08 Acres
Price / SF$102.31
Days on Market54
Property Features for 2020 Auburn Road
General Information
Standard status
Active
Size
60,599 SF
Lot size
7.08 Acres
Property subtype
Retail
Occupancy
87%
Financials
Asking Price
$6,200,000
Cap Rate
7.32%
Site & Location
Corner Location
Yes
Anchor Co-Tenants
Planet Fitness, Dollar Tree
Traffic Count
37,000 vehicles/day
Road Access
Yes
Building Details
Year Renovated
2019
Tenancy
Multi
Listing Agency:
Encore Real Estate Investment Services
Listed By:
Deno Bistolarides · License #6502378067
(248) 702-0288
Source:
Crexi
Added: Sep 8
Changed: Oct 31
Last Checked: Oct 30 at 12:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Encore Real Estate Investment Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Auburn Plaza is a 60,599 SF multi-tenant shopping center on 7.08 acres, renovated in 2019 and occupied by 12 tenants. Planet Fitness and Dollar Tree serve as the center’s anchors, contributing 42.5% of base rent. The property is currently 86.8% occupied, with nearly 8,000 SF available for lease-up.
The center is located at 2020 Auburn Road in Shelby Township, Michigan, at the corner of Auburn Road and Dequindre Road. Five ingress and egress points connect the property to both thoroughfares, which carry more than 37,000 vehicles per day. The surrounding trade area reports average household incomes of $99,058 within 1 mile, $118,503 within 3 miles, and $122,815 within 5 miles.
The center is located at 2020 Auburn Road in Shelby Township, Michigan, at the corner of Auburn Road and Dequindre Road. Five ingress and egress points connect the property to both thoroughfares, which carry more than 37,000 vehicles per day. The surrounding trade area reports average household incomes of $99,058 within 1 mile, $118,503 within 3 miles, and $122,815 within 5 miles.
Key Highlights
- 60,599 SF shopping center on 7.08 acres
- Renovated in 2019
- Planet Fitness and Dollar Tree anchors contribute 42.5% of base rent
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$447,948
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,958,960
$9.0M
Cap Rate 7%
$6,399,257
$6.4M
Cap Rate 9%
$4,977,200
$5.0M
Market Conditions
NOI Build-Up for 60,599 SF
Gross rent
$727.2K $12.00/SF
− Vacancy
−$87.3K −$1.44/SF
EGI
$639.9K $10.56/SF
− OpEx
−$192.0K −$3.17/SF
NOI
$447.9K $7.39/SF
Area
Macomb County, MI
Vacancy
12.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,958,960
Cap Rate 7%
$6,399,257
Cap Rate 9%
$4,977,200
Alternative Uses
Best Use
Retail
$6.40M
$5.60M – $7.47M
NOI $447,948 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.35M
$9.93M – $13.24M
NOI $794,157 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
37,000 VPD
Traffic count
86.8%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
25k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 30%
Home Improvements & Furnishings 8%
Dollar Tree
Shops & Services
9,454 visits/mo
0.0 miles
Little Caesars Pizza
Dining
4,332 visits/mo
0.3 miles
Marathon
Shops & Services
3,987 visits/mo
0.2 miles
Jet's Pizza
Dining
3,316 visits/mo
0.1 miles
Sunoco
Shops & Services
2,090 visits/mo
0.3 miles
Demographics for 48317, MI
27,864
Population
12,936
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,322
Density / Sq Mi
$72,465
Median Household Income
$41,895
Median Earnings
$1,227
Median Rent
$248,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant center anchored by Planet Fitness and Dollar Tree, with lease-up space available.
Where is this shopping center located?
The property is located at 2020 Auburn Road Utica, MI.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 60,599 SF shopping center on 7.08 acres; Renovated in 2019; Planet Fitness and Dollar Tree anchors contribute 42.5% of base rent
