1156 Huron St Waterford, MI 48328
Vacant CVS, strong leasehold, high cap rate.
Property size:
10,922 SFProperty Features for 1156 Huron St
General Information
- Property type
- Individual retail properties
- Square Feet
- 10,922 SF
- Lot Size
- 48,352 SF
Building Details
- Year Built
- 1995
- Buildings
- 1
Listing Agent: Deno Bistolarides
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a 10,922 square foot, single-tenant, free-standing retail building situated on a 1.11-acre lot in Waterford, Michigan. The property, built in 1995 and zoned C2 - Small Business, boasts a prominent location on W Huron Street, experiencing high traffic counts exceeding 18,000 vehicles daily. Currently vacant, the property benefits from a remaining lease term of approximately 2.4 years (expiring March 31, 2027), offering an attractive absolute NNN net lease structure with no landlord responsibilities. The asking price is $1,748,400, representing a compelling cap rate of 9.80% and a price per square foot of $160.08. The property's strong location is further enhanced by its proximity to a new 75,000 square foot DTE Customer Service Center employing 200 workers, and a dense population base of over 161,000 residents within a 5-mile radius. The lease includes four five-year renewal options. This property offers a unique dual opportunity: collect the remaining rent until lease expiration or immediately occupy the space after lease termination. The property can be delivered free and clear of the lease. The Net Operating Income (NOI) is $171,342. The lease commenced on March 13, 1997.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Waterford
- County
- Oakland
- State
- Michigan
- Longitude
- -83.335145667181
- Latitude
- 42.635178934961
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FAQs
What type of property is this?
Individual retail property - Vacant CVS, strong leasehold, high cap rate.
Where is this individual retail property located?
The property is located at 1156 Huron St Waterford, MI.
What is the asking price?
The asking price for this property is $1,748,400.
What are key features of this property?
This property features: 10,922 SF single-tenant freestanding retail building on a 1.11-acre lot in Waterford, MI.; Vacant building with lease expiring March 2027; opportunity to collect remaining rent or immediately occupy.; Absolute NNN lease; no landlord responsibilities.