15701 Market Drive

Retail-Commercial for Sale
Catylist Listing ID: 30767140
Building Size (RSF): 73,400 SF
Gross Building Area: See Agent
Gross Land Area: 2.23 Acres
Sale Price: $8,000,000
Unit Price: $108.99 PSF
Ceiling: 13 ft.
Property Use Type: Investment
Sale Terms: Other
Cap Rate: 7.57%
Last Updated: 8/8/2022

Overview / Comments

The subject asset is 73,400 square feet and is 100% leased to The Dufresne Spencer Group, LLC (“DSG”), one of Ashley HomeStore’s largest licensees. Ashley HomeStore (“Ashley”) is the world’s leading manufacturer and distributor of furniture with over 75 years of operating history. DSG recently executed an 8-year triple net lease at a rate of $8.75 per sq. ft., which escalates annually. The triple net lease states the tenant’s responsibility for all operating expenses pertaining to the property, with the exception of repair/replacement of roof, outer walls, parking lot, utility lines, and life-safety systems. Between the landlord and tenant, approximately $19.00 per sq. ft. is currently being invested into the building. Updates include parking lot work, masonry repairs, electrical upgrades, interior improvements, and more.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $146,542 (Annual)

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Dearborn
Tax ID/APN: 32-09-132-01-123
Zoning: BB
Property Located Between: Ford Road
Traffic/Vehicle Count: 48,381
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1997
Roof Type: Flat
Construction/Siding: Steel Frame
Exterior Description: Brick/Block
Total Parking Spaces: 225
Parking Type: Surface
Sprinklers: Other
Heat Source: Other
Air Conditioning: Other

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 27,335 163,196 453,075
Median Age: 27.05 31.64 34.4
Households: 8,127 55,925 165,286
© Copyright 2001-2022 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.