Leased Kohl’s Retail
For Sale
Contact for pricing
35000 Warren Rd, Westland, MI 48185
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 Market492
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) 698-1100
Listed By:
Winston Guest
(949) 698-1105
Source:
Moodyscre
Added: Jun 24, 2025
Changed: Oct 26
Last Checked: Oct 28 at 8:42AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$860,917
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,218,340
$17.2M
Cap Rate 7%
$12,298,814
$12.3M
Cap Rate 9%
$9,565,744
$9.6M
Market Conditions
NOI Build-Up for 90,860 SF
Gross rent
$1.31M $14.40/SF
− Vacancy
−$78.5K −$0.86/SF
EGI
$1.23M $13.54/SF
− OpEx
−$369.0K −$4.06/SF
NOI
$860.9K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,218,340
Cap Rate 7%
$12,298,814
Cap Rate 9%
$9,565,744
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
836
Businesses Nearby
544k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 29%
Dining 25%
Shops & Services 21%
Superstores 15%
Target
Superstores
83,123 visits/mo
0.2 miles
Kohl's
Apparel
72,058 visits/mo
0.1 miles
Five Below
Shops & Services
42,311 visits/mo
0.3 miles
Burlington
Apparel
37,662 visits/mo
0.2 miles
Best Buy
Electronics
33,105 visits/mo
0.4 miles
Demographics for 48185, MI
49,730
Population
23,554
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
91%
High-School Grad
12.2 sq mi
ZIP Area
4,076
Density / Sq Mi
$59,085
Median Household Income
$40,435
Median Earnings
$1,123
Median Rent
$183,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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
