25377- Schoenherr Rd Warren, MI 48089

Property Details for 25377- Schoenherr Rd

Lot size

1.58 lot acres

Property size

9,304 SF

Property type

Retail properties & Spaces

Description

This exceptional retail investment opportunity presents a 9,304 square foot multi-tenant property located at 25377-25397 Schoenherr Rd, Warren, MI 48089. The property sits on a 1.58-acre pad site adjacent to a high-performing Meijer Supercenter, boasting a 7.02% cap rate and a current NOI of $212,162.45, with a pro-forma NOI of $242,204.04. The asking price is $3,450,000, translating to $370.80 per square foot. This stable asset features a weighted average lease term (WALT) of over six years across four tenants, with built-in rental increases providing significant upside potential. The property benefits from its prime location at the northwest corner of Ten Mile and Schoenherr Roads, within a thriving commercial area. The adjacent Meijer Supercenter, a top performer nationally, attracts over 2.1 million customers annually, according to Placer.ai data. Further enhancing the location's appeal, Great Clips, a tenant within the property, also ranks highly nationally and within Michigan based on Placer.ai data. Nearby amenities include Dunkin' Donuts and Taco Bell, situated on a pad site adjacent to the Meijer along Ten Mile Road. The surrounding area is characterized by a dense residential population and a strong workforce, supported by the presence of numerous industrial and office buildings along Groesbeck Highway (M-97). This property offers a compelling combination of strong tenant occupancy, a desirable location, and significant growth potential, making it an attractive investment opportunity. The lease type is NNN.