5541 Sashabaw Rd, Clarkston, MI 48346-3147
- Commercial real estate
- 4,397 SF
Current Use by Public Records
- Commercial real estate
Property Details for 5541 Sashabaw Rd
- Year built
- 2007
- Zone code
- C-2
- Property type
- Commercial real estate
- APN
- J -08-27-603-001
- APU
- J0827603001
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jul 29, 2024 | — | Clarkston Retail Management II LLC | Woodward Detroit Cvs L L C | Deed | — |
Description
This exceptional investment opportunity presents a 4,397 square foot Chase Bank branch located at 5541 Sashabaw Road, Clarkston, MI 48346. The property sits on a 1.14-acre lot and is situated in a high-traffic area with strong demographics, boasting an average household income exceeding $125,000 within a 3-mile radius. The property features a drive-thru and benefits from its proximity to numerous national retailers such as Kroger, CVS, Wendy's, and McDonald's. This is a Net Lease (NNN) property with a corporate guarantee from JP Morgan Chase Bank, N.A., a globally recognized financial institution with over 4,700 locations. The lease commenced July 15, 2007, and has a remaining term of approximately 9.6 years, expiring June 18, 2034. The lease includes four five-year options with 10% rent increases in each option period. The asking price is $2,262,700, representing a cap rate of 6.00% and a price per square foot of $514.60. The property's Net Operating Income (NOI) is $135,762, reflecting a 100% occupancy rate. Built in 2007, the single-building property is zoned CM and represents a secure, passive income stream with minimal landlord responsibilities. The tenant recently extended their lease for 10 years in June 2024, demonstrating a strong commitment to the location. This is an absolute NNN ground lease.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $340,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $740,000
- 6.5%
- $685,000
- 7%
- $635,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $770,000
- AI Estimate
- $440,000
Market price range: $524k - $1.12MMarket price range: $116k - $704k -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $775,000 Current use
- RETAIL STORES
- $740,000 Change: -4% Conversion: Easy
- MEDICAL BUILDING
- $695,000 Change: -10% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Clarkston
- County
- Oakland
- State
- Michigan
- Longitude
- -83.3791
- Latitude
- 42.7194
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
