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Maaco Collision Repair

$ 1,481,481
Pontiac, Michigan
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Address: 1250 Cesar E Chavez Ave, Pontiac, Michigan, United States 48340

Type: Net Leased Auto Service

Cap Rate: 6.75%

Lease Type: Absolute Triple-Net (NNN)

Annual Rent: $100,000

Net Operating Income: $100,000

Lease Term Remaining: 18+ Years

Rental Increases: 2.0% Annually

Options: One (1), Ten (10) Year Option

Rentable Sq/Ft: 16,605 SF

Rent Sq/Ft: $6.02

Price Sq/Ft: $89

Lot Size: +/- 1.61 Acres

This Maaco investment property is situated on Cesar E Chavez Ave, which experiences average daily traffic counts exceeding 40,714 vehicles. Intersecting with E Chavez Ave is Telegraph Road, which brings an additional 30,062 vehicles into the immediate area on average daily. There are more than 71,940 individuals residing within a three-mile radius of the property and nearly 159,086 individuals within a five-mile radius. The site is situated in an affluent community, which an average income of over $72,000 within a five-mile radius.

The subject property is strategically positioned in a dense retail corridor benefiting from its proximity to major national and local tenants. Major national tenants located in the surrounding area include: Harbor Freight Tools, GameStop, Big Lots, Dollar General, Dollar Tree, Taco Bell, McDonald’s, Red Lobster, Popeyes, Aldi as well as many others. This site also benefits from its close proximity to Pontiac Metal Center, a General Motors plant that employs 350 workers and is located less than 3 miles from the subject property. Oakland University and Oakland Community College are both located within seven miles from the subject property and have a total combined enrollment of over 46,000 students. This Maaco property benefits from its location within a dense retail corridor in addition to its location nearby many apartment communities and homes.

Regionally, the city of Pontiac was known for the Arts, Beats and Eats Festival, a widely attended summer festival featuring an art show, musical concert venues, and a sampling of food from numerous regional restaurants. In 2010, the festival was moved to nearby Royal Oak. The First Annual Scheme Cruise was held September 6, 2015, an event sponsored by the Scheme Street Battle League. The event combined rap battles, basketball competitions, and a car show. The city is at the north end of the famous Woodward Avenue which extends as a major boulevard into Detroit. It was originally lined with mansions and prestigious businesses. In the 1950s and 1960s it was popular with young people who would “cruise” and drag-race their hot-rods in the area. Pontiac participates in the annual Woodward Dream Cruise, an event celebrating Woodward’s hot-rod history, stretching from Detroit to Pontiac. Downtown Pontiac’s nightlife includes nightclubs and music venues such as Club Visions, Tonic, and The Crofoot. Pontiac is home to the Michigan Fallen Heroes Memorial. It is located within the Oakland County Government Complex off Telegraph Road.

 

 

Broker of Record: Steve Chaben License #6502387903

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Glen Kunofsky

President, Founder
(212) 430-5115

Michael Liu

Vice President
(212) 430-5221