Retail•Strip Center•For Sale

Hall Road Center (Home Depot Outlot)

20749-20761 Hall Road, Macomb, Michigan 48044

Sale Price $4,875,000
Bldg Type Multi-Tenant
Year Built 2006
Cap Rate 6.54%
Vacancy 100%
Gross Bldg 9,580 SqFt
Land Area 1.5 Acres
Net Op Inc $319,033.47
Encore Real Estate Investment Services is pleased to offer for sale the Hall Road Retail Center, a 100 percent Class A high image retail center located directly on Hall Road in Macomb Township, Michigan. The property is located on approximately 1.49 acres of land on heavily traveled Hall Road in the high in-come and growth Detroit suburb of Macomb, Michigan. The center is 9,580 square feet in size and is currently occupied by various national and regional tenants, all on NNN leases in which the ten-ants reimburse for 100 percent of operating costs. The property was constructed in 2006 and is a high image retail center in excellent condition. The subject property is located in one of the strongest retail corridors in Metro Detroit. It is located as an outparcel to a Home Depot and Target, both high volume big box retailers that draw from a wide radius of consumers in the Macomb County market. It is located directly on heavily traveled Hall Road (M-59,) which is one of the busiest thoroughfares in Metro Detroit and has some of the highest traffic counts in the state. The property is located only minutes from Lakeside Mall, with over 1.5 million square feet of retail space, and the Mall at Partridge Creek, a 640,000 -square foot open air upscale shopping mall. The property is also located within seconds of a plethora of national retailers as this is truly the epicenter for retail in the eastern suburbs of Detroit. The property is located in Macomb Township, a northern suburb of Detroit located in Macomb County. The township is one of the wealthiest and fast growing areas of the state. In fact, the township's population was 50,478 at the 2000 census and in-creased to 79,580 in the 2010 census, making it the fastest growing area of the entire state of Michigan. Household incomes and home values are well above state and national averages and the area is populated with new, high end subdivisions. In summary, the Hall Road Retail Center is truly an exceptional investment opportunity. In addition to being 100 percent occupied by various national and retail tenants, the leases are all NNN in nature, which ensures that expenses are passed through to the tenants. Additionally, the property is drive through equipped for the Arby's which ensures that Arby's continues to enjoy excellent business at the location as well as provides upside for a future tenant as drive thrus are a commodity in today's real estate world. Additionally, and perhaps most importantly, is the underlying value of the real estate, it is an outparcel to a Target and Home Depot, which ensures that these anchors will continue to draw high volume traffic to the center. Additionally, the property is located directly on Hall Road, one of Michigan's busiest thoroughfares, and has excel-lent signage and visibility on the road as well. Macomb Township is a general law township and northern suburb of Detroit located in Macomb County in the U.S. state of Michigan, in the Metropolitan Detroit region. The township's population was 50,477 at the 2000 census. The 2010 Census places the township's population at 79,580, making it Michigan's fastest growing major municipality. The early founders of Macomb Township arrived in the early 19th century in search of flat and fertile farmland, like that near the Clinton River. Many of these early settlers were of German descent, and the German influences remain today. The Township of Macomb was officially approved by the Legislative Council on March 7, 1834. The township was named in honor of General Alexander Macomb, who was a highly decorated veteran of the War of 1812; his successful mercantile family owned most of Macomb County at one time. Macomb Township was also a large part of the lumber and logging industry of Southeast Michigan in the late 19th century and early 20th century. Logs would be transported south from Wolcott Mill in Ray Township, down the Middle Branch Clinton River to sawmills. This route became known as Romeo Plank, and is the name of the modern-day road that runs down the same route.
  • 9,580 SF Class "A" Retail Center Located on 1.49 Acres | Constructed In 2006
  • 100% Leased to Various Local and National Branded Tenants
  • End Cap Arby’s w/ Drive Thru - Franchisee w/ over 25 Years of Experience
  • High Image Retail Center - Class "A" All Brick Construction
  • Phenomenal Location on Heavily Traveled Hall Road (M-59) | One of Metro Detroit's Busiest Thoroughfares
  • Out Parcel To Super Target and Home Depot
  • Within Minutes of Lakeside Mall (1.5 Million SF) and The Mall at Partridge Creek (640,000 SF)
  • Excellent Demographics | Strong Population Growth and Household Incomes
  • Surrounding Household Incomes Well Above National and State Averages
  • Five Mile Population In Excess of 221,000 | Average Household Income Exceeds $85,000
3/10/2020 6:30:37 PM 3/31/2020 9:42:30 PM
Ayson Shammami
Associate Advisor
Encore Real Estate Investment Services
SEND ME A MESSAGE

SEND A MESSAGE

0/100
dummy toaster to trick _toastr script loaded by scripts.js Show Default