Joann Fabrics and Crafts

Asset Type

Retail

Address
20550 E 13 Mile Rd Roseville, MI United States 48066-4542
Asking Price

S$5,480,000

Sq Footage

33,160

Year Built

1996

Cap Rate

8.01%

Additional Attributes

Property Description

Single-tenant Joann Fabrics and Crafts store for sale located on the premier outparcel of The Home Depot adjacent to I-94. The only Joann store within a 7-mile radius, it serves over 315,000 residents. Nearby retailers include Meijer, Kroger, Taco Bell, CVS, and McDonald’s. Traffic is generated from both Detroit’s “East Side” and an exit ramp off the highway just 700 feet from the property.

Investment Highlights

  • Fee simple interest
  • Property includes an NN lease with six years remaining 
  • Four 5-year options for renewal with rental increases in the option terms
  • Minimal landlord responsibilities
  • Leased to Joann Stores, Inc. corporate
Listing Contacts
Peter Bauman
Peter Bauman
SVP, Capital Markets
+65 3159 4021
AZ - SA647389000 NV-186153
Larry Emmons
Larry Emmons
Managing Director
+65 3159 4021
MI - 6502393806
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