Asking Price
Sq. Footage 33,160
NOI Net Operating Income
Cap Rate 8.01%

Attributes

Year Built 1996
Lease Type NN
Current / Passing Rent
Lease Expiration 2026-01-31
Remaining Term 6 years
Tenant JoAnn Fabrics Corporation
Lot Size 2.65 ACRES

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
Peter Bauman
Peter Bauman
SVP, Capital Markets
Licensed in
AZ - SA647389000 NV-186153
Larry Emmons
Larry Emmons
Managing Director
Licensed in
MI - 6502393806

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