Freestanding Carvana Investment
For Sale
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26890 Adell Center Dr, Novi, MI 48375
NNN leased Carvana property in Novi, Michigan.
Property Size5,706 SF
Price / SF$1,607
Days on Market642
Property Features for 26890 Adell Center Dr
General Information
Standard status
Active
Size
5,706 SF
Property subtype
Retail
Zoning
TC
Building Details
Year Built
2020
Listing Agency:
SRS Real Estate Partners Newport Beach
(248) 688-0630
Listed By:
Matthew Mousavi · License #CA 01732226
Source:
Crexi
Added: Nov 7, 2024
Changed: Aug 11
Last Checked: May 12 at 8:37PM
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 Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
This freestanding Carvana investment property is located in Novi, Michigan, within the Detroit MSA. The property is subject to an absolute NNN lease with approximately 17 years remaining and 4 (5-year) options to extend. The lease includes increases equal to the lesser of (i) 7.92337% or (ii) 1.25x CPI throughout the initial term and at the beginning of each option period. As an absolute NNN lease, there are zero landlord responsibilities. Carvana, founded in 2012, operates from over 40 locations and is a Fortune 500 company, ranking among the largest and fastest-growing online used car dealerships in the United States. The property is strategically located off Interstate 96, which sees over 152,000 vehicles per day, and benefits from nearby access to Novi Road (36,400 VPD), West 12 Mile Road (34,400 VPD), and Grand River Ave (25,400 VPD). The property is adjacent to Twelve Oaks Mall, a 1.5M SF super regional mall anchored by Nordstrom, Macy’s, Crate & Barrel, and more, ranking in the top 93rd percentile of regional malls per placer.ai. Nearby national/credit tenants include Walmart Supercenter, Hobby Lobby, TJ Maxx, Kohls, Marshalls, and more. The property is within walking distance of multiple apartment complexes including The Bond (260 units), The Residences at Sakura Novi (177 units), and Mainstreet Village (389 units). The 5-mile trade area is supported by over 166,000 residents and 125,000 daytime employees. Residents within a 3-mile radius have an average household income of over $151,000. The property size is 5706 square feet.
Key Highlights
- Absolute NNN lease with zero landlord responsibilities.
- Long‑term Carvana lease with approximately 17 years remaining.
- Lease includes rent increases equal to the lesser of 7.92337% or 1.25x CPI.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48375, MI
23,237
Population
10,223
Households
2.3
Avg Household Size
40
Median Age
63%
College-Educated
98%
High-School Grad
8.4 sq mi
ZIP Area
2,766
Density / Sq Mi
$112,978
Median Household Income
$70,326
Median Earnings
$1,880
Median Rent
$348,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Enterprise Rent-A-Car — 25100 Novi Rd, Novi, MI 48375
- Thrifty — 24400 Novi Rd Suite 103, Novi, MI 48375
- Hertz Car Rental - Novi - Novi Road HLE — 24400 Novi Rd Suite 103, Novi, MI 48375
Frequently Asked Questions
What type of property is this?
Automotive property - NNN leased Carvana property in Novi, Michigan.
Where is this automotive property located?
The property is located at 26890 Adell Center Dr Novi, MI.
What is the asking price?
The asking price for this property is $9,173,000.
What are key features of this property?
This property features: Absolute NNN lease with zero landlord responsibilities.; Long‑term Carvana lease with approximately 17 years remaining.; Lease includes rent increases equal to the lesser of 7.92337% or 1.25x CPI.
