2210 Metro Pkwy Sterling Heights, MI 48310
- Retail properties
- 2,793 SF
- 0.78 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2210 Metro Pkwy
- Year built
- 2007
- Lot size
- 0.78 lot acres
- Property size
- 2,793 SF
- Property type
- Retail properties
Description
Exceptional investment opportunity: a 2,793 sq ft Burger King in Sterling Heights, MI, presents a compelling net lease offering. The property boasts a strong 6.50% cap rate and a substantial remaining lease term of 11.1 years, extending to December 31, 2035, with three five-year options. The absolute NNN lease ensures minimal landlord responsibilities, while built-in rent bumps of 6% every three years provide consistent income growth. Situated on a 0.78-acre lot at 2210 Metro Parkway, this location benefits from high visibility and traffic exceeding 50,000 vehicles daily. The property is an outparcel to the Sterling Heights Center, a major retail center anchored by Lowe's and Target, further enhancing its desirability. The franchisee, Michigan Multi-King, a reputable multi-unit operator, guarantees the lease. Built in 2007, this property is located in a thriving area with a population of 94,589 within a three-mile radius and an average household income of $87,816. Sterling Heights itself is the second-largest suburb in Metro Detroit, known for its low crime rate and strong economic performance. The property's NOI is $124,020, and the asking price is $1,908,000. This is a rare opportunity to acquire a stable, high-performing asset in a prime location.
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
- Sterling Heights
- County
- Macomb
- State
- Michigan
- Longitude
- -83.086
- Latitude
- 42.5634
