Asking Price
Sq. Footage 25,020
NOI Net Operating Income
Cap Rate 6.26%

Attributes

Year Built 2000
Lease Type NNN
Current / Passing Rent
Lease Expiration 2019-05-31
Current / Passing Rent
Lease Expiration 2020-12-31
Lease Type NNN
Current / Passing Rent
Lease Expiration 2020-12-31
Current / Passing Rent
Lease Expiration 2021-06-30
Lease Type NN
Lease Expiration 2039-12-31
Remaining Term 19 years, 11 months
Tenant Green Olive Meat Market
Tenant Jade Schools
Tenant Jade Schools
Tenant Jet's Pizza
Tenant CVS Health
Lot Size 3.78 ACRES

Property Description

CVS-anchored shopping center for sale in Canton, Michigan. CVS just extended their lease for 20 years, and the second largest tenant, Jade Child Development Center, just renewed as well. The property sits in the only retail shopping center within a two-mile radius, allowing tenants to benefit from the surrounding dense, affluent population base. The outstanding traffic flow reinforces the continued occupancy of the tenants and the average household income is $85,000 within a 3-mile radius.

Investment Highlights

  • CVS just extended their lease for a 20-year term; making the NOI-weighted average remaining term 12 years
  • Property has been maintained actively over the last 5 years, with over $200,000 in improvements to parking lot, sidewalks, new lights and more
  • Property benefits from strong investment and influx of business into the city
Alex Sharrin
Alex Sharrin
SVP, Capital Markets
Licensed in
IL - 475.170243
Larry Emmons
Larry Emmons
Managing Director
Licensed in
MI - 6502393806

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