36454 Groesbeck Hwy Clinton Township, MI 48035
- Commercial real estate
- 0.57 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 36454 Groesbeck Hwy
- Year built
- 1966
- Lot size
- 0.57 lot acres
- Zone code
- B-3
- Property type
- Commercial real estate
- APN
- 16-11-28-276-021
- APU
- 161128276021
Description
This exceptional 5,600 square foot, multi-tenant retail shopping center presents a compelling investment opportunity in Clinton Township, Michigan. Located at 36454 Groesbeck Highway, this Class B property boasts 100% occupancy with four tenants: an urgent care facility, a pizza restaurant, a hair salon, and a smoke shop. The property features a newly renovated building (2022), including a new roof, parking lot, and LED lighting. The urgent care facility holds a triple-net (NNN) lease extending through 2029, with a five-year renewal option. The property sits on a 0.57-acre lot with 25 parking spaces and 147 feet of frontage on Groesbeck Highway, a high-traffic area with over 30,000 vehicles per day. The property's strong demographics are further enhanced by a population of nearly 100,000 within a three-mile radius. Built in 1965, this single-story building is zoned B3 and offers a strong net operating income (NOI) of $64,635, resulting in a 6.46% cap rate. The asking price is $1,000,000, or $178.57 per square foot. This core+ investment presents a rare opportunity to acquire a stable, high-performing retail property in a desirable location. The property's strong tenant mix, excellent visibility, and recent renovations make it an attractive investment for discerning buyers. The APN is 16-11-28-276-021.
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
- Clinton Township
- County
- Macomb
- State
- Michigan
- Longitude
- -82.9145
- Latitude
- 42.5653
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
