Address: 38141 S Gratiot Ave, Clinton Township, Michigan, United States 48036
Type: Net Leased Auto Service
Cap Rate: 6.75%
Lease Type: Absolute Triple-Net (NNN)
Annual Rent: $110,000
Net Operating Income: $110,000
Lease Term Remaining: 18 Years
Rental Increases: 2.0% Annually
Options: One (1), Ten (10) Year Option
Rentable Sq/Ft: 12,509 SF
Rent Sq/Ft: $8.79
Price Sq/Ft: $130
Lot Size: +/- 3.06
This Maaco investment property is situated on S Gratiot Ave, which experiences average daily traffic counts exceeding 50,360 vehicles. There are more than 95,164 individuals residing within a three-mile radius of the property and over 222,701 individuals within a five-mile radius. The site is situated in an affluent community, which an average income of over $65,680 within a three-mile radius and $69,740 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: Rent-A-Center, Taco Bell, H&R Block, Boston Market, Metro PCS, Papa John’s, Jimmy John’s, CVS, Bank of America, Tim Hortons, Walgreens, Sunoco, Subway, McDonalds, Wendy’s Burger King, and KFC, as well as many others. Less than a mile down the road is a regional shopping center comprised of Lowe’s, AMC Theatres, Rite Aid, and many more. This subject property is also located approximately 7 miles from Macomb Community college, a multi-campus community college with nearly 60,000 students enrolled. The McLaren Macomb Hospital, a 259-bed, short term acute care center, is located roughly a mile from the subject property. The Selfridge Air National Guard facility is approximately eight miles away.
Clinton Township is a charter township of Macomb County in Michigan. It is a part of Metro Detroit. The township is socioeconomically diverse, a mix of middle-class communities including many upscale and exclusive areas that many notable people, such as Eminem, call home. Clinton Township is home to many parks, notably George Memorial Park. Clinton Township is the most populous township in the state of Michigan. With over 100,000 residents, Clinton Township is Michigan’s tenth largest municipality. Despite its size, Clinton Township offers residents a wealth of tight-knit residential neighborhoods with all the amenities families require. Located less than 20 miles from Detroit, Clinton Township is in close proximity to multiple automobile manufactures. Most notably, GM, Ford, and Fiat employ over 20,000 workers collectively in the immediate area.
Broker of Record: Steve Chaben License #6502387903