Leased Kohl’s Retail
35000 Warren Rd Westland, MI 48185
For Sale
Contact for pricing
Absolute NNN Kohl’s property with long-term corporate-guaranteed tenancy and zero landlord responsibilities.
Property Size90,860 SF
Price / SF$156.30
Days on Market401
Property Features for 35000 Warren Rd
General Information
Standard status
Active
Size
90,860 SF
Property subtype
RETAIL
Listing Agency:
SRS Industrial - Newport Beach
(949) 698-1105
Listed By:
Winston Guest · License #CA 01732226
(949) 698-1105
Source:
Moodyscre
Added: Jun 24, 2025
Changed: Jul 28
Last Checked: Jul 29 at 4:00PM
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 SRS Industrial - Newport Beach
Investment Insights
Based on property information with market context.
SRS National Net Lease Group presents the opportunity to acquire the leased fee (land ownership) interest in a corporate guaranteed Kohl’s retail investment. The property is described as an absolute NNN structure with zero landlord responsibilities, designed for a management-free ownership experience.
The tenant has occupied the location for over 36 years and currently has 12 years remaining on the lease, along with four (5-year) option periods to extend. The lease includes a $0.05/SF/month rental increase in 2029, and rental growth at the beginning of each option period is designed to support NOI growth over time.
This is a leased fee acquisition offering investors land ownership tied to a long-tenured, corporate-guaranteed retail tenant under an absolute NNN lease structure.
The tenant has occupied the location for over 36 years and currently has 12 years remaining on the lease, along with four (5-year) option periods to extend. The lease includes a $0.05/SF/month rental increase in 2029, and rental growth at the beginning of each option period is designed to support NOI growth over time.
This is a leased fee acquisition offering investors land ownership tied to a long-tenured, corporate-guaranteed retail tenant under an absolute NNN lease structure.
Key Highlights
- Absolute NNN Kohl’s investment property with zero landlord responsibilities
- Corporate guaranteed tenancy—tenant has occupied the location for over 36 years
- Lease includes 12 years remaining, plus 4 (5‑year) option periods
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.31M | $14.40 |
| − Vacancy | −$78.5k | −$0.86 |
| EGI | $1.23M | $13.54 |
| − OpEx | −$369.0k | −$4.06 |
| NOI | $860.9k | $9.48 |
90,860 SF · lease $14.40/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$12.30M
$10.76M – $14.35M
NOI $860,917 @ 7.0% cap · market cap 6.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$16.82M
$14.72M – $19.63M
NOI $1,177,546 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
NNN property - Absolute NNN Kohl’s property with long-term corporate-guaranteed tenancy and zero landlord responsibilities.
Where is this nnn property located?
The property is located at 35000 Warren Rd Westland, MI.
What is the asking price?
The asking price for this property is $14,201,000.
What are key features of this property?
This property features: Absolute NNN Kohl’s investment property with zero landlord responsibilities; Corporate guaranteed tenancy—tenant has occupied the location for over 36 years; Lease includes 12 years remaining, plus 4 (5‑year) option periods
