27445 Michigan Ave Inkster, MI 48141-2201

Property Details for 27445 Michigan Ave

Year built

1995

Lot size

6.93 lot acres

Property size

69,350 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

44 007 08 0007 301

APU

44007080007301

Description

This exceptional value-add opportunity presents a 68,730-square-foot retail center in Inkster, Michigan, boasting a 9% cap rate and 88.36% occupancy. The property, situated on a 6.93-acre lot at the corner of M-12/Michigan Avenue and Inkster Road (50,820 combined VPD), features a diverse mix of nine tenants, including Dollar General, O'Reilly Auto Parts, T-Mobile, Citi Trends, and Biomat Plasma. Five of the twelve units are under triple-net leases, providing stable income streams. Built in 1995 and renovated in 2019 (including a significant expansion), the single-story building benefits from a strong retail market with 15.8 million square feet of retail space within a five-mile radius and a 93.8% occupancy rate. The property's strategic location offers convenient access to major thoroughfares, including Interstate 94 (over 155,000 VPD), and is proximate to significant employers such as Ford World Headquarters, multiple Ford plants, and Corewell Health Hospitals in Dearborn and Wayne. The surrounding area comprises a mix of industrial and residential properties, with notable nearby retailers including Home Depot, Kroger, and Dollar Tree. A robust population of 294,827 residents within a five-mile radius, boasting an average household income exceeding $75,000, further enhances the investment potential. The asking price is $5,403,735, with a net operating income (NOI) of $486,336. Lease options are multiple, and the property is offered fee simple, with rent bumps included. This property presents a compelling investment opportunity due to its strong tenancy, prime location, and significant upside potential.