1164 Ladd Rd Commerce Township, MI 48390-3032
- Commercial land
- 9.97 lot acres
Jan 08, 2021
Current Use by Public Records
- Commercial land
Property Details for 1164 Ladd Rd
- Lot size
- 9.97 lot acres
- Zone code
- IV
- Property type
- Commercial land
- APN
- 92-17-27-376-020
- APU
- 921727376020
Description
This exceptional Class A industrial property in Commerce Charter Township, MI, offers a secure, long-term absolute NNN lease with American Expedition Vehicles, a corporate-guaranteed tenant. The 80,416 square foot facility, built in 1996 and renovated in 2013, sits on a 14.6-acre lot and is ideally suited for distribution, manufacturing, and warehousing. The lease, expiring December 30, 2035, boasts a remaining term of 11.1 years with favorable 2.5% annual rent increases. The property generates a strong NOI of $465,809, resulting in a compelling 7.50% cap rate at an asking price of $6,210,787. Its strategic location near major transportation routes and supply chains, coupled with its proximity to the General Motors Milford Proving Ground and a densely populated, affluent area with an average household income exceeding $109,000, makes this a highly desirable investment opportunity. Oakland County's AAA bond rating further underscores the economic strength and stability of the region. This property presents a rare combination of strong tenant, long-term lease, and significant upside potential in a prime location.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Commerce Township
- County
- Oakland
- State
- Michigan
- Longitude
- -83.4892
- Latitude
- 42.5414
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
