2218-2258 Milford Rd Highland, MI 48357
- Retail properties
- 17,840 SF
- 4.71 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2218-2258 Milford Rd
- Year built
- 1998
- Lot size
- 4.71 lot acres
- Property size
- 17,840 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
Mavericks Landing, a thriving 17,840 square foot restaurant center in Highland, Michigan, presents a compelling investment opportunity. This fully occupied (100%) property boasts a strong 6.20% capitalization rate and a substantial net operating income (NOI) of $218,000. Located at 2218-2258 S Milford Rd, this prime retail space is situated on a 4.71-acre lot and offers ample parking with 105 spaces. Built in 1998, the building features a triple-net (NNN) lease structure, ensuring low rental rates and minimal landlord responsibilities. The property benefits from its high-traffic location directly across from Milford High School, providing excellent visibility and consistent customer flow. The tenant mix includes established and popular businesses such as Leo's Coney Island, Tropical Smoothie, and Cottage Inn Pizza, contributing to the property's consistent performance. The asking price is $3,480,000, translating to a price per square foot of $195.07. The property's location in Oakland County, Michigan, near various amenities and residential areas, further enhances its investment appeal. This is a rare opportunity to acquire a well-maintained, high-performing restaurant center with a proven track record of success. The property's parcel number is 11-34-101-022.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Highland
- County
- Oakland
- State
- Michigan
- Longitude
- -83.6168
- Latitude
- 42.6189
