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Property profile & analytics

51057 Milano Dr Macomb, MI 48042-4028

  • Commercial real estate
  • 6,683 SF
  • 1.37 lot acres
OFF-MARKET
Last Sale
Jan 26, 2022
$4,133,333
Value Estimations
Cap Rate Potential
Location Intelligence
Property ID
US43-0117051
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • WhiteWater Express Car Wash / Car Wash

Property Details for 51057 Milano Dr

Year built
1993
Lot size
1.37 lot acres
Property size
6,683 SF
Zone code
C4
Property type
Commercial real estate
APN
20-08-18-451-006
APU
200818451006

Description

This exceptional investment opportunity presents a fee-simple interest in a 5,186 square foot WhiteWater Express Car Wash located in Macomb, Michigan. Built in 1993 and renovated in 2022, this single-unit car wash boasts a 20-year absolute NNN lease commencing December 31, 2021, and expiring December 31, 2041, with four 5-year renewal options. The lease includes a corporate guarantee and 1% annual rent increases, providing excellent protection against inflation. The property sits on a 1.37-acre lot with exceptional visibility at the northeast corner of Milano Drive and 23 Mile Road, a major thoroughfare with over 27,400 vehicles daily. Surrounded by nationally recognized retailers, this location benefits from high traffic and strong demographics, including a 5-mile population exceeding 192,000 and an average household income of $104,000+. The property's current NOI is $255,025, representing a 6.00% cap rate and a price per square foot of $819.59. The asking price is $4,250,417, offering a compelling return on investment. The absolute NNN lease structure minimizes landlord responsibilities, making this an ideal hands-off investment. The tenant is responsible for all taxes, insurance, and maintenance, including the roof, structure, and parking lot. This offering provides significant bonus depreciation opportunities.


Value Estimations

based on Realmo’s proprietary methodology
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  • CAP approach

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  • Alternative Use

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Location Insight

  • Map
  • Local Demand
City
Macomb
County
Macomb
State
Michigan
Longitude
-82.9671
Latitude
42.6717
CBSA code
19820
CBSA name
DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$19,932
$0.00
$0.00
$436,000
-
$0.00
$0.00
$872,000
More about this property
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