2733 Un Lk Rd, Commerce Township, MI 48382-3561
- Outlet malls
- 66,154 SF
- 5.65 lot acres
Current Use by Public Records
- Outlet malls
Property Details for 2733 Un Lk Rd
- Year built
- 1998
- Lot size
- 5.65 lot acres
- Zone code
- BI
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- E -17-12-276-007
- APU
- E1712276007
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Feb 4, 2025 | — | Commerce Woods Sc LLC | Commerce Woods Shopping Center LLC | Deed | — |
| Apr 10, 2023 | — | Rebecca Brock | Commerce Woods Shopping Center LLC | Deed | — |
| Dec 10, 2021 | — | Commerce Woods Shopping Center LLC | — | Deed · related | $5M · Flagstar Bank Fsb |
| Jan 6, 2021 | — | Commerce Woods Shopping Center LLC | — | Deed · related | $514k · Flagstar Bank Fsb |
| Jan 10, 2020 | — | Commerce Woods Shopping Center LLC | — | Deed · related | $2.7M · Flagstar Bank Fsb |
| Dec 19, 2019 | — | Commerce Woods Shopping Center LLC | — | Deed · related | $3.4M · Flagstar Bank Fsb |
| Jan 25, 2019 | — | Commerce Woods Shopping Ctr Ll | — | Grant Deed · related | $6.4M · Flagstar Bk |
| Oct 3, 2014 | — | Commerce Woods Shopping Center LLC | Topvalco INC | Deed | — |
| Oct 11, 1999 | — | Topvalco INC | Kroger Co | Quit Claim Deed · related | — |
Description
This exceptional Class A, 62,800 square foot shopping center in Commerce Charter Township, Michigan, presents a compelling investment opportunity. Located at 2733 Union Lake Rd, this single-story, multi-tenant property boasts 100% occupancy with two prominent tenants: Planet Fitness and Sky Zone. Planet Fitness, operated by Michigan's largest franchisee, occupies a significant portion of the space under a 10-year lease. Sky Zone also benefits from a 10-year lease with renewal options. The property underwent a complete renovation in 2015 and features ample parking (283 spaces) on a 5.2-acre lot. The property's strategic location at a major intersection, adjacent to a large Kroger, ensures high visibility and strong traffic flow. This stabilized investment offers a compelling 8.75% cap rate, with a Net Operating Income (NOI) of $457,600, and an asking price of $5,230,000 ($83 per square foot). The property is offered fee simple and features a NNN lease structure. This is a rare opportunity to acquire a high-performing, multi-tenant retail center in a thriving Michigan community. The property's strong tenant mix, long-term leases, and prime location make it an ideal addition to any investment portfolio. The property's financial performance is further enhanced by its recent renovation and the strength of its tenant base.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $7,298,000
- AI Estimate
- $5,927,000
Market price range: $5.20M - $17.4MMarket price range: $4.13M - $14.4M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $10,445,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Commerce Township
- County
- Oakland
- State
- Michigan
- Longitude
- -83.4445
- Latitude
- 42.5954
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
